ARB IOT Group (NASDAQ:ARBB – Get Free Report) was upgraded by equities researchers at Maxim Group to a “strong-buy” rating in a research report issued on Monday, Marketbeat Ratings reports. The brokerage presently has a $20.00 target price on the stock. Maxim Group’s price objective points to a potential upside of 212.99% from the company’s previous close.
ARB IOT Group Stock Up 10.2%
ARB IOT Group stock opened at $6.39 on Monday. The stock’s 50 day moving average is $9.32 and its 200-day moving average is $8.70. ARB IOT Group has a 12 month low of $3.22 and a 12 month high of $18.60.
Institutional Trading of ARB IOT Group
Several large investors have recently made changes to their positions in ARBB. Virtu Financial LLC acquired a new stake in shares of ARB IOT Group in the 1st quarter valued at $31,000. Renaissance Technologies LLC acquired a new stake in ARB IOT Group in the fourth quarter valued at about $28,000. Finally, Citadel Advisors LLC boosted its stake in shares of ARB IOT Group by 120.1% in the 4th quarter. Citadel Advisors LLC now owns 72,831 shares of the company’s stock valued at $36,000 after purchasing an additional 39,744 shares in the last quarter. 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.
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