Noam Arkind Sells 175,862 Shares of Arbe Robotics (NASDAQ:ARBE) Stock

Arbe Robotics Ltd. (NASDAQ:ARBEGet Free Report) CTO Noam Arkind sold 175,862 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $1.18, for a total value of $207,517.16. Following the completion of the sale, the chief technology officer directly owned 1,648,120 shares of the company’s stock, valued at $1,944,781.60. The trade was a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Noam Arkind also recently made the following trade(s):

  • On Wednesday, June 3rd, Noam Arkind sold 24,138 shares of Arbe Robotics stock. The shares were sold at an average price of $1.09, for a total value of $26,310.42.

Arbe Robotics Price Performance

Shares of Arbe Robotics stock traded down $0.16 during trading hours on Friday, hitting $0.91. 4,805,857 shares of the company’s stock traded hands, compared to its average volume of 4,637,679. Arbe Robotics Ltd. has a 12-month low of $0.55 and a 12-month high of $2.88. The stock has a market capitalization of $111.61 million, a price-to-earnings ratio of -2.53 and a beta of 1.06. The company has a fifty day simple moving average of $0.86 and a 200-day simple moving average of $1.05.

Arbe Robotics (NASDAQ:ARBEGet Free Report) last announced its earnings results on Thursday, May 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Arbe Robotics had a negative net margin of 2,817.97% and a negative return on equity of 83.44%. The business had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $0.48 million.

Analysts Set New Price Targets

ARBE has been the subject of several research analyst reports. Weiss Ratings raised Arbe Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 21st. Canaccord Genuity Group raised their target price on Arbe Robotics to $1.50 and gave the company a “buy” rating in a research report on Friday, May 29th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Arbe Robotics presently has a consensus rating of “Moderate Buy” and a consensus target price of $2.33.

Get Our Latest Report on ARBE

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Resurgent Financial Advisors LLC bought a new position in shares of Arbe Robotics during the 3rd quarter worth $30,000. Ashton Thomas Private Wealth LLC grew its stake in shares of Arbe Robotics by 200.0% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 30,000 shares of the company’s stock worth $35,000 after acquiring an additional 20,000 shares during the period. Invesco Ltd. bought a new position in shares of Arbe Robotics during the 2nd quarter worth $41,000. Goldman Sachs Group Inc. bought a new position in shares of Arbe Robotics during the 4th quarter worth $46,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Arbe Robotics during the 1st quarter worth $63,000. Institutional investors own 33.42% of the company’s stock.

Arbe Robotics Company Profile

(Get Free Report)

Arbe Robotics Ltd. is a technology company specializing in high-resolution 4D imaging radar solutions for the automotive industry. The company’s radar platform is designed to enhance advanced driver-assistance systems (ADAS) and support the development of autonomous vehicles by providing detailed object detection, precise range and velocity measurements, and accurate environmental mapping under diverse driving conditions.

Founded in 2015 and headquartered in Tel Aviv, Israel, Arbe Robotics has developed its own semiconductor chipset and accompanying software stack.

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