ARB IOT Group (NASDAQ:ARBB) Shares Down 1.3% – Here’s What Happened

ARB IOT Group Limited (NASDAQ:ARBB)’s stock price traded down 1.3% during trading on Thursday . The stock traded as low as $4.19 and last traded at $4.2360. Approximately 1,461 shares were traded during mid-day trading, a decline of 35% from the average session volume of 2,242 shares. The stock had previously closed at $4.29.

Wall Street Analysts Forecast Growth

ARBB has been the topic of a number of research reports. Weiss Ratings cut shares of ARB IOT Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, July 23rd. Zacks Research upgraded ARB IOT Group to a “hold” rating in a research note on Wednesday, June 17th. Finally, Maxim Group downgraded ARB IOT Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 16th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

ARB IOT Group Stock Performance

The stock has a 50-day moving average price of $4.72 and a 200-day moving average price of $4.80.

ARB IOT Group (NASDAQ:ARBB) last announced 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.

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.