Zacks Research Upgrades ARB IOT Group (NASDAQ:ARBB) to “Hold”

ARB IOT Group (NASDAQ:ARBB) was upgraded by Zacks Research to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

ARBB has been the subject of several other reports. Maxim Group downgraded shares of ARB IOT Group from a “buy” rating to a “hold” rating in a report on Tuesday. Weiss Ratings upgraded ARB IOT Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 4th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce”.

ARB IOT Group Stock Performance

Shares of ARBB stock opened at $4.77 on Wednesday. The company has a 50 day moving average of $4.80 and a 200-day moving average of $5.20. ARB IOT Group has a 12-month low of $3.71 and a 12-month high of $13.89.

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 business had revenue of $18.53 million for the quarter. On average, sell-side analysts forecast that ARB IOT Group will post -4.19 EPS for the current year.

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.