Insider Selling: Arbe Robotics (NASDAQ:ARBE) CTO Sells $26,310.42 in Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 24,138 shares of Arbe Robotics stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $1.09, for a total transaction of $26,310.42. Following the sale, the chief technology officer directly owned 1,623,982 shares in the company, valued at approximately $1,770,140.38. The trade was a 1.46% decrease in their position. The transaction was disclosed in a document filed 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, June 2nd, Noam Arkind sold 175,862 shares of Arbe Robotics stock. The shares were sold at an average price of $1.18, for a total transaction of $207,517.16.

Arbe Robotics Stock Performance

ARBE stock opened at $0.91 on Monday. The firm has a market cap of $111.61 million, a PE ratio of -2.53 and a beta of 1.06. The firm’s 50 day moving average price is $0.86 and its 200-day moving average price is $1.05. Arbe Robotics Ltd. has a one year low of $0.55 and a one year high of $2.88.

Arbe Robotics (NASDAQ:ARBE) last released its quarterly earnings results on Thursday, May 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The firm had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $0.48 million. Arbe Robotics had a negative net margin of 2,817.97% and a negative return on equity of 83.44%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ARBE. Weiss Ratings upgraded shares of Arbe Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 21st. Canaccord Genuity Group lifted their target price on shares of Arbe Robotics to $1.50 and gave the company a “buy” rating in a report on Friday, May 29th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Arbe Robotics currently has an average rating of “Moderate Buy” and a consensus price target of $2.33.

Institutional Trading of Arbe Robotics

Institutional investors have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Arbe Robotics by 187.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,849,154 shares of the company’s stock worth $4,995,000 after acquiring an additional 3,162,282 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in shares of Arbe Robotics by 36.9% in the third quarter. Alyeska Investment Group L.P. now owns 4,116,822 shares of the company’s stock worth $6,793,000 after acquiring an additional 1,109,047 shares in the last quarter. AlphaCentric Advisors LLC acquired a new position in shares of Arbe Robotics in the first quarter worth $183,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Arbe Robotics in the fourth quarter worth $315,000. Finally, Aristides Capital LLC acquired a new position in shares of Arbe Robotics in the fourth quarter worth $180,000. Institutional investors and hedge funds own 33.42% of the company’s stock.

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.