ARB IOT Group (NASDAQ:ARBB) Trading Up 17.6% – Here’s Why

ARB IOT Group Limited (NASDAQ:ARBB)’s share price traded up 17.6% on Friday . The company traded as high as $7.32 and last traded at $6.76. 161,857 shares changed hands during mid-day trading, a decline of 1% from the average session volume of 163,439 shares. The stock had previously closed at $5.75.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of ARB IOT Group in a research report on Monday. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $20.00.

ARB IOT Group Stock Up 17.6%

The business’s 50 day moving average price is $6.04 and its 200-day moving average price is $5.95.

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.