Reebonz (NASDAQ:RBZ) Trading Up 9.8%

Reebonz Holding Ltd (NASDAQ:RBZ) shares were up 9.8% on Thursday . The stock traded as high as $1.74 and last traded at $1.68, approximately 160,000 shares changed hands during mid-day trading. A decline of 76% from the average daily volume of 666,694 shares. The stock had previously closed at $1.53.

Several equities research analysts have weighed in on RBZ shares. Roth Capital started coverage on shares of Reebonz in a report on Wednesday, April 24th. They issued a “buy” rating and a $11.00 target price on the stock. Maxim Group reiterated a “buy” rating and issued a $11.00 target price on shares of Reebonz in a report on Thursday, July 25th.

The stock has a fifty day simple moving average of $2.79.

A hedge fund recently bought a new stake in Reebonz stock. Cowen Inc. bought a new stake in shares of Reebonz Holding Ltd (NASDAQ:RBZ) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 29,942 shares of the company’s stock, valued at approximately $113,000. Cowen Inc. owned 0.53% of Reebonz as of its most recent SEC filing. Institutional investors and hedge funds own 4.48% of the company’s stock.

About Reebonz (NASDAQ:RBZ)

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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