Arbe Robotics Sees Unusually Large Options Volume (NASDAQ:ARBE)

Arbe Robotics Ltd. (NASDAQ:ARBE) saw some unusual options trading activity on Thursday. Investors bought 52,243 call options on the stock. This is an increase of 1,234% compared to the average volume of 3,916 call options.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ARBE shares. Westpark Capital assumed coverage on Arbe Robotics in a research note on Thursday, January 8th. They issued a “buy” rating and a $3.50 price target for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Arbe Robotics in a research note on Wednesday, October 8th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $1.75 price objective on shares of Arbe Robotics in a report on Tuesday, November 18th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $2.42.

Arbe Robotics Trading Up 29.2%

ARBE traded up $0.39 on Thursday, hitting $1.71. 10,704,193 shares of the company’s stock traded hands, compared to its average volume of 7,833,993. Arbe Robotics has a one year low of $0.85 and a one year high of $3.37. The firm has a market cap of $179.50 million, a price-to-earnings ratio of -3.63 and a beta of 0.53. The company’s 50 day simple moving average is $1.28 and its 200-day simple moving average is $1.51.

Hedge Funds Weigh In On Arbe Robotics

Several institutional investors have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC purchased a new stake in Arbe Robotics in the 2nd quarter worth $27,000. Quadrature Capital Ltd purchased a new position in Arbe Robotics during the 2nd quarter valued at approximately $29,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Arbe Robotics during the 3rd quarter worth approximately $30,000. Invesco Ltd. bought a new position in shares of Arbe Robotics during the 2nd quarter valued at approximately $41,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Arbe Robotics in the first quarter valued at $63,000. 33.42% of the stock is owned by hedge funds and other institutional investors.

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.