ARB IOT Group (NASDAQ:ARBB) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of ARB IOT Group (NASDAQ:ARBB) to a hold rating in a research note released on Wednesday morning,Zacks.com reports.

Several other research firms have also issued reports on ARBB. Maxim Group lowered ARB IOT Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Weiss Ratings raised ARB IOT Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 4th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

ARB IOT Group Stock Down 2.9%

NASDAQ:ARBB opened at $4.77 on Wednesday. The business’s 50-day moving average price is $4.80 and its two-hundred day moving average price is $5.20. ARB IOT Group has a twelve month low of $3.71 and a twelve month high of $13.89.

ARB IOT Group (NASDAQ:ARBB) last released its earnings results on Friday, May 8th. The company reported ($1.02) EPS for the quarter. The company had revenue of $18.53 million during the quarter. On average, analysts expect that ARB IOT Group will post -4.19 EPS for the current year.

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.