Reebonz (NASDAQ:RBZ) Upgraded to Buy at ValuEngine

ValuEngine upgraded shares of Reebonz (NASDAQ:RBZ) from a hold rating to a buy rating in a research note released on Tuesday, ValuEngine reports.

Shares of Reebonz stock traded down $0.02 during trading hours on Tuesday, hitting $0.38. The company’s stock had a trading volume of 357,820 shares, compared to its average volume of 398,168. The stock has a 50 day moving average of $0.81 and a 200 day moving average of $1.19. Reebonz has a 12 month low of $0.30 and a 12 month high of $38.90.

An institutional investor recently raised its position in Reebonz stock. Geode Capital Management LLC increased its holdings in shares of Reebonz Holding Ltd (NASDAQ:RBZ) by 94.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,680 shares of the company’s stock after acquiring an additional 20,745 shares during the quarter. Geode Capital Management LLC owned about 0.75% of Reebonz worth $49,000 as of its most recent SEC filing. 9.10% of the stock is currently owned by hedge funds and other institutional investors.

About Reebonz

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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