Canaccord Genuity Group Has Lowered Expectations for Arbe Robotics (NASDAQ:ARBE) Stock Price

Arbe Robotics (NASDAQ:ARBEGet Free Report) had its target price lowered by stock analysts at Canaccord Genuity Group from $1.75 to $1.25 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 51.52% from the company’s previous close.

Separately, Westpark Capital started coverage on shares of Arbe Robotics in a research note on Thursday, January 8th. They set a “buy” rating and a $3.50 target price on the stock. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $2.25.

Read Our Latest Stock Analysis on Arbe Robotics

Arbe Robotics Price Performance

NASDAQ:ARBE traded down $0.11 on Friday, hitting $0.83. 6,405,028 shares of the company’s stock were exchanged, compared to its average volume of 5,810,644. The firm has a 50-day moving average price of $1.20 and a 200-day moving average price of $1.46. The company has a market cap of $90.08 million, a P/E ratio of -1.75 and a beta of 0.54. Arbe Robotics has a 52 week low of $0.83 and a 52 week high of $2.88.

Hedge Funds Weigh In On Arbe Robotics

A number of large investors have recently modified their holdings of the company. Resurgent Financial Advisors LLC grew 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 worth $32,000 after purchasing an additional 9,200 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Arbe Robotics in the second quarter worth $27,000. SBI Securities Co. Ltd. grew its stake in shares of Arbe Robotics by 30.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 66,240 shares of the company’s stock worth $118,000 after buying an additional 15,629 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Arbe Robotics in the second quarter worth approximately $29,000. Finally, Sender Co & Partners Inc. raised its holdings in shares of Arbe Robotics by 19.6% during the third quarter. Sender Co & Partners Inc. now owns 103,620 shares of the company’s stock valued at $171,000 after purchasing an additional 16,991 shares during the last quarter. 33.42% of the stock is currently owned by institutional investors.

Key Arbe Robotics News

Here are the key news stories impacting Arbe Robotics this week:

Arbe Robotics Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Arbe Robotics (NASDAQ:ARBE)

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