Reebonz (NASDAQ:RBZ) Shares Up 10.3%

Reebonz Holding Ltd (NASDAQ:RBZ)’s stock price shot up 10.3% during trading on Wednesday . The stock traded as high as $2.09 and last traded at $1.93, 391,000 shares traded hands during trading. A decline of 38% from the average session volume of 633,897 shares. The stock had previously closed at $1.75.

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

The firm’s 50 day moving average is $1.95.

Several hedge funds have recently modified their holdings of RBZ. Cowen Inc. purchased a new position in Reebonz during the 2nd quarter valued at $113,000. Citadel Advisors LLC bought a new position in Reebonz in the 2nd quarter valued at $51,000. Finally, Verition Fund Management LLC bought a new position in Reebonz in the 2nd quarter valued at $665,000. 9.52% of the stock is owned by hedge funds and other institutional investors.

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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