Noam Arkind Sells 35,800 Shares of Arbe Robotics (NASDAQ:ARBE) Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 35,800 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $0.63, for a total transaction of $22,554.00. Following the transaction, the chief technology officer owned 1,525,482 shares in the company, valued at $961,053.66. This represents a 2.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Noam Arkind also recently made the following trade(s):

• On Tuesday, September 8th, Noam Arkind sold 278,800 shares of Arbe Robotics stock. The stock was sold at an average price of $0.78, for a total value of $217,464.00.
• On Friday, September 4th, Noam Arkind sold 22,700 shares of Arbe Robotics stock. The shares were sold at an average price of $0.63, for a total value of $14,301.00.
• 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 value of $19,840.00.
• On Wednesday, September 2nd, Noam Arkind sold 31,700 shares of Arbe Robotics stock. The stock was sold at an average price of $0.64, for a total value of $20,288.00.

Arbe Robotics Stock Performance

ARBE opened at $0.78 on Friday. The company has a market capitalization of $96.11 million, a PE ratio of -2.30 and a beta of 1.12. The stock’s fifty day moving average is $0.72 and its 200-day moving average is $0.80. Arbe Robotics Ltd. has a one year low of $0.55 and a one year high of $2.88.

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

Hedge Funds Weigh In On Arbe Robotics

Institutional investors have recently bought and sold shares of the stock. Resurgent Financial Advisors LLC acquired a new stake in Arbe Robotics during the 3rd quarter worth about $30,000. Invesco Ltd. purchased a new position in shares of Arbe Robotics in the second quarter worth approximately $41,000. Goldman Sachs Group Inc. purchased a new position in shares of Arbe Robotics in the fourth quarter worth approximately $46,000. Cubist Systematic Strategies LLC purchased a new position in shares of Arbe Robotics in the first quarter worth approximately $63,000. Finally, HRT Financial LP acquired a new stake in shares of Arbe Robotics during the fourth quarter valued at approximately $118,000. Hedge funds and other institutional investors own 33.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ARBE. Wall Street Zen lowered 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 price target on shares of Arbe Robotics in a research report on Friday. Finally, Weiss Ratings reaffirmed 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $2.75.

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.