Arbe Robotics (NASDAQ:ARBE) CTO Sells 22,700 Shares of Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 22,700 shares of Arbe Robotics stock in a transaction on Friday, September 4th. The stock was sold at an average price of $0.63, for a total value of $14,301.00. Following the sale, the chief technology officer owned 1,502,782 shares of the company’s stock, valued at approximately $946,752.66. This trade represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 stock was sold at an average price of $0.78, for a total transaction of $217,464.00.
• On Thursday, September 3rd, Noam Arkind sold 35,800 shares of Arbe Robotics stock. The stock was sold at an average price of $0.63, for a total transaction of $22,554.00.
• 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 shares were sold at an average price of $0.64, for a total transaction of $20,288.00.

Arbe Robotics Stock Performance

Arbe Robotics stock traded up $0.02 during trading hours on Friday, hitting $0.78. The company had a trading volume of 1,468,328 shares, compared to its average volume of 3,450,257. The firm has a market cap of $95.73 million, a P/E ratio of -2.30 and a beta of 1.12. The company has a 50-day moving average price of $0.72 and a two-hundred day moving average price of $0.80. Arbe Robotics Ltd. has a 1 year low of $0.55 and a 1 year high of $2.88.

Arbe Robotics (NASDAQ:ARBE) last issued its 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 business had revenue of $0.70 million for the quarter, compared to analyst estimates of $0.54 million.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Arbe Robotics

Institutional investors have recently bought and sold shares of the business. AWM Investment Company Inc. bought a new position in Arbe Robotics in the second 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 bought a new stake in Arbe Robotics during the 4th quarter valued at $315,000. Aristides Capital LLC purchased a new position in shares of Arbe Robotics in the 4th quarter valued at $180,000. Finally, XTX Topco Ltd increased its holdings in shares of Arbe Robotics by 56.2% in the 4th quarter. XTX Topco Ltd now owns 275,728 shares of the company’s stock valued at $325,000 after acquiring an additional 99,206 shares during the period. 33.42% of the stock is owned by hedge funds and other institutional investors.

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.