ARB IOT Group (NASDAQ:ARBB) Shares Down 4.7% – What’s Next?

ARB IOT Group Limited (NASDAQ:ARBB)’s stock price traded down 4.7% during trading on Friday . The company traded as low as $4.56 and last traded at $4.66. 6,935 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 110,211 shares. The stock had previously closed at $4.89.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of ARB IOT Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ARB IOT Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

ARB IOT Group Price Performance

The business’s 50-day simple moving average is $4.49 and its 200 day simple moving average is $5.32.

ARB IOT Group (NASDAQ:ARBB) last posted its earnings results on Friday, May 8th. The company reported ($1.02) EPS for the quarter. The business had revenue of $18.53 million for the quarter.

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.