Arbe Robotics (NASDAQ:ARBE) Stock Jumps 3.5% – Here’s What Happened

by · The Markets Daily

Arbe Robotics Ltd. (NASDAQ:ARBE – Get Free Report) shares rose 3.5% during trading on Friday. The company traded as high as $0.6280 and last traded at $0.6126. Approximately 1,012,848 shares changed hands during trading, a decline of 86% from the average daily volume of 7,019,118 shares. The stock had previously closed at $0.5920.

Analyst Ratings Changes

ARBE has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arbe Robotics in a report on Tuesday, August 18th. Wall Street Zen lowered Arbe Robotics from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Canaccord Genuity Group set a $2.00 target price on Arbe Robotics in a research report on Friday, September 11th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Arbe Robotics presently has a consensus rating of “Hold” and a consensus target price of $2.75.

Get Our Latest Report on ARBE

Arbe Robotics Trading Up 3.5%

The stock’s 50-day moving average price is $0.69 and its two-hundred day moving average price is $0.77. The stock has a market capitalization of $75.14 million, a P/E ratio of -1.80 and a beta of 1.15.

Arbe Robotics (NASDAQ:ARBE – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Arbe Robotics had a negative net margin of 2,116.84% and a negative return on equity of 90.93%. 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 the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $0.78, for a total value of $217,464.00. Following the completion of the sale, the chief technology officer directly owned 1,223,982 shares of the company’s stock, valued at $954,705.96. This trade represents a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 400,000 shares of company stock valued at $294,447 over the last three months. Company insiders own 53.53% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. AWM Investment Company Inc. bought a new position in Arbe Robotics in the 2nd quarter worth approximately $4,570,000. AlphaCentric Advisors LLC bought a new stake in Arbe Robotics during the 1st quarter valued at $183,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Arbe Robotics during the fourth quarter worth $315,000. Finally, Aristides Capital LLC purchased a new stake in shares of Arbe Robotics during the fourth quarter worth $180,000. Institutional investors own 33.42% of the company’s stock.

About Arbe Robotics

(Get Free Report)

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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