Arbe Robotics (NASDAQ:ARBE) CTO Sells 22,700 Shares

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 22,700 shares of Arbe Robotics stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $0.63, for a total value of $14,301.00. Following the completion of the transaction, the chief technology officer owned 1,502,782 shares in the company, valued at $946,752.66. This trade represents a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 shares were sold at an average price of $0.78, for a total transaction of $217,464.00.
• On Thursday, September 3rd, Noam Arkind sold 35,800 shares of Arbe Robotics stock. The shares were 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 shares were 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 stock was sold at an average price of $0.64, for a total transaction of $20,288.00.

Arbe Robotics Stock Up 2.9%

Shares of NASDAQ ARBE traded up $0.02 during trading hours on Friday, hitting $0.78. 1,468,328 shares of the stock were exchanged, compared to its average volume of 3,450,257. The company has a market cap of $95.73 million, a PE ratio of -2.30 and a beta of 1.12. The firm has a fifty day moving average price of $0.72 and a 200-day moving average price of $0.80. Arbe Robotics Ltd. has a 12 month low of $0.55 and a 12 month high of $2.88.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Canaccord Genuity Group set a $2.00 price objective on Arbe Robotics in a research report on Friday. Wall Street Zen lowered Arbe Robotics from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Arbe Robotics in a research note 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 MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2.75.

Institutional Trading of Arbe Robotics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARBE. Resurgent Financial Advisors LLC purchased a new stake in Arbe Robotics during the 3rd quarter valued at about $30,000. Invesco Ltd. purchased a new position in shares of Arbe Robotics in the second quarter worth about $41,000. Goldman Sachs Group Inc. acquired a new stake in shares of Arbe Robotics during the fourth quarter worth about $46,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Arbe Robotics during the first quarter worth about $63,000. Finally, HRT Financial LP purchased a new stake in Arbe Robotics in the fourth quarter valued at approximately $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.