Arbe Robotics Ltd. (NASDAQ:ARBE – Get Free Report) traded up 3.5% during trading on Friday. The stock traded as high as $0.6280 and last traded at $0.6126. 1,012,848 shares traded hands during trading, a decline of 86% from the average session volume of 7,019,118 shares. The stock had previously closed at $0.5920.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on ARBE. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arbe Robotics in a report on Tuesday, August 18th. Wall Street Zen lowered shares of Arbe Robotics from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Canaccord Genuity Group set a $2.00 price target on shares of Arbe Robotics in a research note on Friday, September 11th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2.75.
Read Our Latest Report on ARBE
Arbe Robotics Stock Up 3.5%
Arbe Robotics (NASDAQ:ARBE – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. Arbe Robotics had a negative return on equity of 90.93% and a negative net margin of 2,116.84%.The company had revenue of $0.70 million for the quarter, compared to analysts’ expectations of $0.54 million.
Insider Transactions at Arbe Robotics
In other Arbe Robotics news, CTO Noam Arkind sold 278,800 shares of Arbe Robotics stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $0.78, for a total transaction of $217,464.00. Following the transaction, the chief technology officer directly owned 1,223,982 shares of the company’s stock, valued at $954,705.96. The trade was a 18.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 400,000 shares of company stock worth $294,447. 53.53% of the stock is owned by insiders.
Institutional Trading of Arbe Robotics
Several institutional investors and hedge funds have recently made changes to their positions in ARBE. Caitong International Asset Management Co. Ltd purchased a new position in Arbe Robotics during the fourth quarter worth about $132,000. Aristides Capital LLC purchased a new stake in Arbe Robotics in the 4th quarter valued at about $180,000. AlphaCentric Advisors LLC purchased a new stake in Arbe Robotics in the 1st quarter valued at about $183,000. Finally, AWM Investment Company Inc. bought a new position in shares of Arbe Robotics during the 2nd quarter worth approximately $4,570,000. Hedge funds and other institutional investors own 33.42% of the company’s stock.
About Arbe Robotics
Arbe Robotics Ltd. (NASDAQ: ARBE) is an automotive technology company that develops high-resolution 4D imaging radar systems for advanced driver-assistance systems and autonomous vehicles. Its technology is designed to help vehicles detect and track surrounding objects, including vehicles, pedestrians and other road users, in a range of weather and lighting conditions.
The company provides radar solutions built around its proprietary chipset, sensor reference designs and perception software.
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