Reebonz (NASDAQ:RBZ) Shares Up 10.3%

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Reebonz Holding Ltd (NASDAQ:RBZ) rose 10.3% during mid-day trading on Wednesday . The company traded as high as $2.09 and last traded at $1.93, approximately 391,000 shares were traded during mid-day trading. A decline of 38% from the average daily volume of 633,897 shares. The stock had previously closed at $1.75.

Separately, Maxim Group restated a “buy” rating and set a $11.00 price objective on shares of Reebonz in a research report on Thursday, July 25th.

The stock has a 50 day simple moving average of $1.95.

A number of large investors have recently bought and sold shares of RBZ. Verition Fund Management LLC purchased a new position in shares of Reebonz in the second quarter valued at about $665,000. Cowen Inc. bought a new position in shares of Reebonz in the second quarter worth about $113,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Reebonz during the second quarter worth about $51,000. 9.52% of the stock is currently owned by institutional investors and hedge funds.

Reebonz Company Profile (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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