ARB IOT Group (NASDAQ:ARBB) Trading 3% Higher – Still a Buy?

ARB IOT Group Limited (NASDAQ:ARBB)’s stock price rose 3% during trading on Tuesday . The company 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 reaffirmed a “sell (e+)” rating on shares of ARB IOT Group in a research note on Monday. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.00.

ARB IOT Group Stock Up 3.0%

The firm’s fifty day moving average is $6.65 and its 200 day moving average is $6.25.

Hedge Funds Weigh In On ARB IOT Group

A hedge fund recently bought a new stake in ARB IOT Group stock. Virtu Financial LLC bought a new stake in shares of ARB IOT Group Limited (NASDAQ:ARBB) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 44,603 shares of the company’s stock, valued at approximately $31,000. Virtu Financial LLC owned 0.17% of ARB IOT Group as of its most recent SEC filing. Hedge funds and other institutional investors 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.