Arbe Robotics (NASDAQ:ARBE) Stock Price Up 2.3%

Shares of Arbe Robotics Ltd. (NASDAQ:ARBE – Get Rating) shot up 2.3% on Thursday . The stock traded as high as $5.94 and last traded at $5.87. 10,066 shares traded hands during trading, a decline of 73% from the average session volume of 37,211 shares. The stock had previously closed at $5.74.

Arbe Robotics Stock Performance

The company has a fifty day simple moving average of $5.69 and a two-hundred day simple moving average of $6.67.

Arbe Robotics (NASDAQ:ARBE – Get Rating) last released its quarterly earnings results on Thursday, May 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.04. The firm had revenue of $0.88 million during the quarter, compared to analyst estimates of $0.70 million. On average, equities analysts predict that Arbe Robotics Ltd. will post -0.66 EPS for the current year.

Institutional Trading of Arbe Robotics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Phoenix Holdings Ltd. acquired a new stake in shares of Arbe Robotics in the fourth quarter valued at about $316,000. Saba Capital Management L.P. bought a new position in Arbe Robotics during the first quarter worth about $322,000. ETF Managers Group LLC bought a new position in Arbe Robotics during the fourth quarter worth about $537,000. ARK Investment Management LLC bought a new position in Arbe Robotics during the first quarter worth about $1,875,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Arbe Robotics during the fourth quarter worth about $13,020,000. Institutional investors and hedge funds own 17.09% of the company’s stock.

Arbe Robotics Company Profile

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Arbe Robotics Ltd., a semiconductor company, provides 4D imaging radar solutions for tier 1 automotive suppliers and automotive manufacturers in Israel and the United States. It offers 4D imaging radar chipset solutions that address the core issues that have caused autonomous vehicle and autopilot accidents, such as detecting stationary objects, identifying vulnerable road users, and eliminating false alarms without radar ambiguities.