Citadel Advisors LLC Grows Stake in ARB IOT Group Limited (NASDAQ:ARBB)

Citadel Advisors LLC boosted its stake in ARB IOT Group Limited (NASDAQ:ARBB) by 120.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 72,831 shares of the company’s stock after buying an additional 39,744 shares during the quarter. Citadel Advisors LLC’s holdings in ARB IOT Group were worth $36,000 at the end of the most recent reporting period.

Separately, Renaissance Technologies LLC purchased a new stake in ARB IOT Group during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 14.79% of the company’s stock.

ARB IOT Group Stock Up 5.6%

Shares of ARBB opened at $6.75 on Thursday. ARB IOT Group Limited has a 52-week low of $3.22 and a 52-week high of $18.60. The firm’s fifty day moving average is $9.25 and its two-hundred day moving average is $8.69.

Analyst Ratings Changes

Separately, Maxim Group upgraded ARB IOT Group to a “strong-buy” rating and set a $20.00 target price on the stock in a research report on Monday.

ARB IOT Group Profile

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.