ARB IOT Group (NASDAQ:ARBB) Shares Up 17.6% – Time to Buy?

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

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of ARB IOT Group in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

ARB IOT Group Stock Performance

The company has a 50 day moving average of $6.04 and a 200 day moving average of $5.95.

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.