Arbe Robotics (NASDAQ:ARBE) CTO Noam Arkind Sells 35,800 Shares of Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 35,800 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $0.63, for a total transaction of $22,554.00. Following the completion of the sale, the chief technology officer owned 1,525,482 shares of the company’s stock, valued at approximately $961,053.66. The trade was a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 8th, Noam Arkind sold 278,800 shares of Arbe Robotics stock. The shares were sold at an average price of $0.78, for a total transaction of $217,464.00.
• On Friday, September 4th, Noam Arkind sold 22,700 shares of Arbe Robotics stock. The shares were sold at an average price of $0.63, for a total transaction of $14,301.00.
• On Thursday, September 3rd, Noam Arkind sold 31,000 shares of Arbe Robotics stock. The shares were sold at an average price of $0.64, for a total transaction of $19,840.00.
• On Wednesday, September 2nd, Noam Arkind sold 31,700 shares of Arbe Robotics stock. The stock was sold at an average price of $0.64, for a total value of $20,288.00.

Arbe Robotics Trading Up 3.3%

Shares of ARBE opened at $0.78 on Friday. The stock’s fifty day simple moving average is $0.72 and its 200 day simple moving average is $0.80. The firm has a market capitalization of $96.11 million, a P/E ratio of -2.30 and a beta of 1.12. Arbe Robotics Ltd. has a twelve month low of $0.55 and a twelve month high of $2.88.

Arbe Robotics (NASDAQ:ARBE) last issued its earnings results on Thursday, August 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.54 million.

Institutional Investors Weigh In On Arbe Robotics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC boosted its position in Arbe Robotics by 51.4% in the 4th quarter. Resurgent Financial Advisors LLC now owns 27,100 shares of the company’s stock valued at $32,000 after buying an additional 9,200 shares during the last quarter. Sender Co & Partners Inc. grew its stake in shares of Arbe Robotics by 19.6% during the third quarter. Sender Co & Partners Inc. now owns 103,620 shares of the company’s stock valued at $171,000 after acquiring an additional 16,991 shares in the last quarter. Two Sigma Investments LP increased its position in shares of Arbe Robotics by 25.2% during the third quarter. Two Sigma Investments LP now owns 109,283 shares of the company’s stock worth $180,000 after acquiring an additional 21,990 shares during the last quarter. Invesco Ltd. purchased a new stake in shares of Arbe Robotics during the second quarter worth about $41,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Arbe Robotics in the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 33.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ARBE shares. Canaccord Genuity Group set a $2.00 target price on Arbe Robotics in a research report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arbe Robotics in a report on Tuesday, August 18th. Finally, Wall Street Zen lowered Arbe Robotics from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Arbe Robotics has an average rating of “Hold” and a consensus target price of $2.75.

About Arbe Robotics

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.