Arbe Robotics Ltd. (NASDAQ:ARBE) Receives $2.42 Consensus PT from Brokerages

Arbe Robotics Ltd. (NASDAQ:ARBE) has been assigned a consensus recommendation of “Hold” from the five research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $2.4167.

A number of equities research analysts have recently weighed in on ARBE shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Arbe Robotics in a research note on Wednesday, October 8th. Westpark Capital began coverage on Arbe Robotics in a research note on Thursday, January 8th. They set a “buy” rating and a $3.50 price objective for the company. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $1.75 target price on shares of Arbe Robotics in a report on Tuesday, November 18th.

Arbe Robotics Stock Down 5.1%

Shares of NASDAQ:ARBE opened at $1.11 on Monday. The stock has a market cap of $121.20 million, a PE ratio of -2.36 and a beta of 0.54. The company’s fifty day moving average is $1.28 and its 200 day moving average is $1.50. Arbe Robotics has a 52 week low of $0.85 and a 52 week high of $3.20.

Hedge Funds Weigh In On Arbe Robotics

Hedge funds have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Arbe Robotics in the second quarter worth about $105,000. Alyeska Investment Group L.P. raised its position in Arbe Robotics by 36.9% during the 3rd quarter. Alyeska Investment Group L.P. now owns 4,116,822 shares of the company’s stock valued at $6,793,000 after purchasing an additional 1,109,047 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in Arbe Robotics by 30.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 66,240 shares of the company’s stock worth $118,000 after buying an additional 15,629 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Arbe Robotics in the 2nd quarter worth approximately $29,000. Finally, Resurgent Financial Advisors LLC purchased a new position in shares of Arbe Robotics during the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 33.42% of the company’s stock.

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.