Arbe Robotics (NASDAQ:ARBE) CTO Sells $22,554.00 in Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 35,800 shares of the business’s stock in a transaction dated 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 transaction, the chief technology officer owned 1,525,482 shares in the company, valued at $961,053.66. The trade was a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was 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 shares were sold at an average price of $0.64, for a total value of $20,288.00.

Arbe Robotics Trading Up 2.9%

Arbe Robotics stock traded up $0.02 during mid-day trading on Friday, hitting $0.78. The company’s stock had a trading volume of 1,468,328 shares, compared to its average volume of 3,450,257. The stock’s fifty day moving average is $0.72 and its two-hundred day moving average is $0.80. The firm has a market capitalization of $95.73 million, a PE ratio of -2.30 and a beta of 1.12. Arbe Robotics Ltd. has a 1 year low of $0.55 and a 1 year high of $2.88.

Arbe Robotics (NASDAQ:ARBE) last posted its earnings results on Thursday, August 6th. The company reported ($0.06) EPS for the quarter, beating 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 company had revenue of $0.70 million for the quarter, compared to the consensus estimate of $0.54 million.

Institutional Investors Weigh In On Arbe Robotics

Institutional investors and hedge funds have recently modified their holdings of the company. Resurgent Financial Advisors LLC increased its stake in Arbe Robotics by 51.4% during the 4th quarter. Resurgent Financial Advisors LLC now owns 27,100 shares of the company’s stock worth $32,000 after buying an additional 9,200 shares during the period. Sender Co & Partners Inc. boosted its position in Arbe Robotics by 19.6% in the 3rd quarter. Sender Co & Partners Inc. now owns 103,620 shares of the company’s stock valued at $171,000 after buying an additional 16,991 shares during the period. Two Sigma Investments LP grew its stake in shares of Arbe Robotics by 25.2% in 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 in the last quarter. Invesco Ltd. acquired a new position in shares of Arbe Robotics in the second quarter worth $41,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Arbe Robotics during the fourth quarter worth $46,000. Hedge funds and other institutional investors own 33.42% of the company’s stock.

Analyst Ratings Changes

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

Arbe Robotics Company Profile

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.