Arbe Robotics (NASDAQ:ARBE) CTO Noam Arkind Sells 24,138 Shares of Stock

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

Arbe Robotics Trading Down 15.0%

Shares of NASDAQ ARBE opened at $0.91 on Friday. The stock has a 50 day simple moving average of $0.86 and a 200-day simple moving average of $1.05. The company has a market cap of $111.61 million, a PE ratio of -2.53 and a beta of 1.06. Arbe Robotics Ltd. has a 12-month low of $0.55 and a 12-month high of $2.88.

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

Wall Street Analysts Forecast Growth

ARBE has been the subject of a number of research analyst reports. Canaccord Genuity Group upped their target price on Arbe Robotics to $1.50 and gave the stock a “buy” rating in a research report on Friday, May 29th. Weiss Ratings upgraded Arbe Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 21st. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $2.33.

Institutional Investors Weigh In On Arbe Robotics

Institutional investors have recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC acquired a new stake in Arbe Robotics in the third quarter worth approximately $30,000. Ashton Thomas Private Wealth LLC lifted its position in Arbe Robotics by 200.0% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 30,000 shares of the company’s stock worth $35,000 after purchasing an additional 20,000 shares during the period. Invesco Ltd. bought a new position in shares of Arbe Robotics in the second quarter valued at $41,000. Goldman Sachs Group Inc. bought a new position in shares of Arbe Robotics in the fourth quarter valued at $46,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Arbe Robotics in the first quarter valued at $63,000. 33.42% of the stock is currently owned by institutional investors and hedge funds.

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.