Arbe Robotics (NASDAQ:ARBE) CTO Sells $20,288.00 in Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 31,700 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $0.64, for a total transaction of $20,288.00. Following the transaction, the chief technology officer owned 1,592,282 shares of the company’s stock, valued at approximately $1,019,060.48. The trade was a 1.95% decrease in their position. The transaction was disclosed in a legal filing 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 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.

Arbe Robotics Price Performance

Shares of ARBE traded down $0.01 during trading hours on Thursday, hitting $0.62. 636,477 shares of the stock were exchanged, compared to its average volume of 2,835,646. Arbe Robotics Ltd. has a fifty-two week low of $0.55 and a fifty-two week high of $2.88. The business has a 50-day moving average of $0.72 and a 200-day moving average of $0.81. The firm has a market capitalization of $76.63 million, a P/E ratio of -1.84 and a beta of 1.12.

Arbe Robotics (NASDAQ:ARBE) last announced its earnings results on Thursday, August 6th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $0.70 million during the quarter, compared to the consensus estimate of $0.54 million. Arbe Robotics had a negative net margin of 2,116.84% and a negative return on equity of 90.93%.

Analysts Set New Price Targets

ARBE has been the topic of a number of recent analyst reports. Canaccord Genuity Group set a $1.25 price objective on Arbe Robotics in a research note on Friday, August 7th. Wall Street Zen cut Arbe Robotics from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Arbe Robotics in a report 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, Arbe Robotics has a consensus rating of “Hold” and an average price target of $2.38.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC increased its holdings in shares of Arbe Robotics by 51.4% during the fourth quarter. Resurgent Financial Advisors LLC now owns 27,100 shares of the company’s stock valued at $32,000 after acquiring an additional 9,200 shares in the last quarter. Sender Co & Partners Inc. lifted its holdings in shares of Arbe Robotics by 19.6% in the 3rd quarter. Sender Co & Partners Inc. now owns 103,620 shares of the company’s stock worth $171,000 after purchasing an additional 16,991 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of Arbe Robotics by 25.2% in the 3rd quarter. Two Sigma Investments LP now owns 109,283 shares of the company’s stock worth $180,000 after purchasing an additional 21,990 shares in the last quarter. Invesco Ltd. acquired a new stake in Arbe Robotics in the 2nd quarter valued at $41,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Arbe Robotics in the 4th quarter valued at $46,000. Institutional investors own 33.42% of the company’s stock.

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.