ARB IOT Group (NASDAQ:ARBB) Issues Earnings Results

ARB IOT Group (NASDAQ:ARBB) announced its quarterly earnings data on Friday. The company reported ($1.02) EPS for the quarter, FiscalAI reports. The company had revenue of $18.53 million during the quarter.

ARB IOT Group Stock Down 2.2%

ARBB traded down $0.10 during trading hours on Friday, reaching $4.52. The company’s stock had a trading volume of 15,710 shares, compared to its average volume of 34,451. ARB IOT Group has a 52 week low of $3.71 and a 52 week high of $13.89. The company’s 50-day moving average is $4.50 and its 200-day moving average is $5.36.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded ARB IOT Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, ARB IOT Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

ARB IOT Group Company 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.