Noam Arkind Sells 278,800 Shares of Arbe Robotics (NASDAQ:ARBE) Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) 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 value of $217,464.00. Following the completion of the transaction, the chief technology officer directly owned 1,223,982 shares in the company, valued at $954,705.96. This represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 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 value of $14,301.00.
• On Thursday, September 3rd, Noam Arkind sold 35,800 shares of Arbe Robotics stock. The stock was sold at an average price of $0.63, for a total transaction of $22,554.00.
• On Thursday, September 3rd, Noam Arkind sold 31,000 shares of Arbe Robotics stock. The stock was 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 transaction of $20,288.00.

Arbe Robotics Price Performance

NASDAQ:ARBE opened at $0.78 on Friday. The company’s fifty day moving average price is $0.72 and its 200-day moving average price is $0.80. Arbe Robotics Ltd. has a 1-year low of $0.55 and a 1-year high of $2.88. The firm has a market capitalization of $96.11 million, a P/E ratio of -2.30 and a beta of 1.12.

Arbe Robotics (NASDAQ:ARBE) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $0.70 million for 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%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Arbe Robotics

A number of institutional investors have recently added to or reduced their stakes in ARBE. Resurgent Financial Advisors LLC acquired a new position in Arbe Robotics during the third quarter worth $30,000. Invesco Ltd. purchased a new stake in shares of Arbe Robotics during the second quarter worth about $41,000. Goldman Sachs Group Inc. purchased a new stake in shares of Arbe Robotics during the fourth quarter worth about $46,000. Cubist Systematic Strategies LLC acquired a new position in shares of Arbe Robotics during the 1st quarter worth about $63,000. Finally, HRT Financial LP acquired a new position in shares of Arbe Robotics during the 4th quarter worth about $118,000. Institutional investors and hedge funds 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.