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

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

Wall Street Analyst Weigh In

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 equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

ARB IOT Group Stock Down 4.7%

The firm’s fifty day moving average is $4.49 and its two-hundred day moving average is $5.32.

ARB IOT Group (NASDAQ:ARBB) last issued its earnings results on Friday, May 8th. The company reported ($1.02) earnings per share for the quarter. The company 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.