ARB IOT Group (NASDAQ:ARBB) Shares Up 3% – What’s Next?

Shares of ARB IOT Group Limited (NASDAQ:ARBB) rose 3% during mid-day trading on Tuesday . The stock traded as high as $5.90 and last traded at $5.7550. Approximately 93,876 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 232,922 shares. The stock had previously closed at $5.59.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of ARB IOT Group in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

ARB IOT Group Stock Performance

The firm’s 50 day moving average price is $6.66 and its 200-day moving average price is $6.25.

Institutional Trading of ARB IOT Group

A hedge fund recently bought a new stake in ARB IOT Group stock. Virtu Financial LLC acquired a new stake in ARB IOT Group Limited (NASDAQ:ARBB) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 44,603 shares of the company’s stock, valued at approximately $31,000. Virtu Financial LLC owned approximately 0.17% of ARB IOT Group at the end of the most recent reporting period. Institutional investors and hedge funds own 14.79% of the company’s stock.

About ARB IOT Group

ARB IOT Group Limited, through its subsidiaries, provides Internet of Things (IoT) system solutions, and system integration and support services in Malaysia. It offers IoT smart home and building solutions, such as design, procurement, and provision of smart home products and devices; integration services; and electrical wire installation and home data network setup for homeowners, as well as provides smart building solutions, including design, procurement, installation, testing, pre-commissioning and commissioning of various IoT systems, solutions, and devices; and integration of automated systems for smart buildings, including installation of wire and wireless, and mechatronic works for property developers and contractors.