Noam Arkind Sells 175,862 Shares of Arbe Robotics (NASDAQ:ARBE) Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 175,862 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1.18, for a total value of $207,517.16. Following the completion of the sale, the chief technology officer owned 1,648,120 shares of the company’s stock, valued at $1,944,781.60. The trade was a 9.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Wednesday, June 3rd, Noam Arkind sold 24,138 shares of Arbe Robotics stock. The stock was sold at an average price of $1.09, for a total value of $26,310.42.

Arbe Robotics Price Performance

NASDAQ:ARBE opened at $0.91 on Friday. The business has a 50 day moving average of $0.86 and a 200 day moving average of $1.05. The company has a market capitalization of $111.61 million, a price-to-earnings ratio of -2.53 and a beta of 1.06. Arbe Robotics Ltd. has a 1-year low of $0.55 and a 1-year high of $2.88.

Arbe Robotics (NASDAQ:ARBE) last released its earnings results on Thursday, May 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The firm had revenue of $0.46 million during the quarter, compared to the consensus estimate of $0.48 million. Arbe Robotics had a negative return on equity of 83.44% and a negative net margin of 2,817.97%.

Institutional Investors Weigh In On Arbe Robotics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARBE. Resurgent Financial Advisors LLC purchased a new stake in Arbe Robotics in the third quarter worth $30,000. Ashton Thomas Private Wealth LLC boosted its holdings in Arbe Robotics by 200.0% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 30,000 shares of the company’s stock worth $35,000 after acquiring an additional 20,000 shares in the last quarter. Invesco Ltd. bought a new stake in Arbe Robotics in the second quarter worth $41,000. Goldman Sachs Group Inc. bought a new stake in Arbe Robotics in the fourth quarter worth $46,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Arbe Robotics in the first quarter worth $63,000. 33.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on ARBE. Canaccord Genuity Group boosted their target price on Arbe Robotics to $1.50 and gave the stock a “buy” rating in a research report on Friday, May 29th. Weiss Ratings raised Arbe Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Arbe Robotics presently has an average rating of “Moderate Buy” and an average price target of $2.33.

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.