Arbe Robotics (NASDAQ:ARBE) Stock Falls 1.6% – Should You Sell?

Shares of Arbe Robotics Ltd. (NASDAQ:ARBE) fell 1.6% during trading on Friday. The stock traded as low as $0.4250 and last traded at $0.4319. Approximately 752,256 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 1,263,714 shares. The stock had previously closed at $0.4389.

Wall Street Analyst Weigh In

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

Arbe Robotics Stock Down 1.6%

The company has a 50-day simple moving average of $0.63 and a two-hundred day simple moving average of $0.76. The firm has a market cap of $54.98 million, a PE ratio of -1.27 and a beta of 1.15.

Arbe Robotics (NASDAQ:ARBE) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $0.70 million during the quarter, compared to the consensus estimate of $0.54 million. Arbe Robotics had a negative return on equity of 90.93% and a negative net margin of 2,116.84%.

Insider Buying and Selling at Arbe Robotics

In related news, CTO Noam Arkind sold 278,800 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $0.78, for a total transaction of $217,464.00. Following the completion of the transaction, the chief technology officer owned 1,223,982 shares in the company, valued at approximately $954,705.96. This represents a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 valued at $294,447. 53.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Arbe Robotics stock. AlphaCentric Advisors LLC bought a new stake in Arbe Robotics Ltd. (NASDAQ:ARBE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 300,000 shares of the company’s stock, valued at approximately $183,000. AlphaCentric Advisors LLC owned about 0.24% of Arbe Robotics as of its most recent SEC filing. 33.42% of the stock is owned by institutional investors.

About Arbe Robotics

Arbe Robotics Ltd. is an Israel-based technology company that develops high-resolution 4D imaging radar solutions for the automotive industry. Its technology is designed to help vehicles detect and classify objects, measure distance and speed, and improve perception in advanced driver-assistance systems and autonomous-driving applications.

The company offers radar chipset solutions, reference designs, perception software, and related development tools for automotive manufacturers and Tier 1 suppliers.