Canaccord Genuity Group Cuts Arbe Robotics (NASDAQ:ARBE) Price Target to $1.25

Arbe Robotics (NASDAQ:ARBEGet Free Report) had its price target cut by equities research analysts at Canaccord Genuity Group from $1.75 to $1.25 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 51.52% from the company’s previous close.

Separately, Westpark Capital assumed coverage on shares of Arbe Robotics in a research note on Thursday, January 8th. They set a “buy” rating and a $3.50 price target for the company. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Arbe Robotics currently has a consensus rating of “Hold” and an average price target of $2.25.

Get Our Latest Stock Analysis on Arbe Robotics

Arbe Robotics Stock Performance

Shares of NASDAQ:ARBE traded down $0.11 on Friday, reaching $0.83. The company’s stock had a trading volume of 6,405,028 shares, compared to its average volume of 5,810,644. Arbe Robotics has a 52-week low of $0.83 and a 52-week high of $2.88. The company has a market cap of $90.08 million, a P/E ratio of -1.75 and a beta of 0.54. The company has a 50-day simple moving average of $1.20 and a 200 day simple moving average of $1.46.

Institutional Trading of Arbe Robotics

Several large investors have recently made changes to their positions in ARBE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Arbe Robotics by 187.5% during 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 valued at $4,995,000 after buying an additional 3,162,282 shares during the period. Alyeska Investment Group L.P. lifted its position 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 valued at $6,793,000 after acquiring an additional 1,109,047 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Arbe Robotics by 56.2% in the fourth 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 in the last quarter. Aristides Capital LLC acquired a new stake in shares of Arbe Robotics in the fourth quarter worth approximately $180,000. Finally, Squarepoint Ops LLC increased its position in shares of Arbe Robotics by 611.8% during the fourth quarter. Squarepoint Ops LLC now owns 137,313 shares of the company’s stock worth $162,000 after purchasing an additional 118,021 shares in the last quarter. 33.42% of the stock is owned by hedge funds and other institutional investors.

Arbe Robotics News Summary

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Arbe Robotics Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Arbe Robotics (NASDAQ:ARBE)

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