Reebonz (NASDAQ:RBZ) received a $5.00 target price from investment analysts at Maxim Group in a research note issued to investors on Thursday, TipRanks reports. The brokerage currently has a “buy” rating on the stock. Maxim Group’s target price points to a potential upside of 390.20% from the company’s previous close.
Separately, Roth Capital decreased their price target on shares of Reebonz from $11.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th.
RBZ stock traded down $0.19 during midday trading on Thursday, reaching $1.02. 198,874 shares of the company’s stock traded hands, compared to its average volume of 619,091. The firm has a fifty day simple moving average of $1.81. Reebonz has a 52 week low of $1.01 and a 52 week high of $83.52.
A number of hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC purchased a new position in Reebonz during the 2nd quarter worth $51,000. Cowen Inc. purchased a new position in Reebonz during the 2nd quarter worth $113,000. Finally, Verition Fund Management LLC purchased a new position in Reebonz during the 2nd quarter worth $665,000. Institutional investors and hedge funds own 9.52% of the company’s stock.
Reebonz Holding Limited operates an online platform for buying and selling a range of luxury products in Southeast Asia and the Asia Pacific markets. It offers a range of new and pre-owned luxury bags, accessories, watches, jewelry, and shoes from designer labels and a curation of merchants through sale events and Reebonz app, as well as iPhone, iPad, and Android platforms.
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