Noam Arkind Sells 31,000 Shares of Arbe Robotics (NASDAQ:ARBE) Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 31,000 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $0.64, for a total transaction of $19,840.00. Following the completion of the transaction, the chief technology officer directly owned 1,561,282 shares of the company’s stock, valued at approximately $999,220.48. This represents a 1.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 Performance

ARBE stock opened at $0.64 on Friday. The company has a 50 day moving average price of $0.72 and a two-hundred day moving average price of $0.81. The stock has a market capitalization of $77.94 million, a P/E ratio of -1.87 and a beta of 1.12. Arbe Robotics Ltd. has a one year low of $0.55 and a one year high of $2.88.

Arbe Robotics (NASDAQ:ARBE) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $0.70 million for the quarter, compared to analyst estimates of $0.54 million.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Canaccord Genuity Group set a $1.25 price target on Arbe Robotics in a research note on Friday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arbe Robotics in a report on Tuesday, August 18th. Finally, Wall Street Zen cut shares of Arbe Robotics from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $2.38.

Institutional Investors Weigh In On Arbe Robotics

A number of institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new stake in Arbe Robotics during the first quarter worth about $63,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Arbe Robotics by 187.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,849,154 shares of the company’s stock worth $4,995,000 after purchasing an additional 3,162,282 shares during the period. Geode Capital Management LLC increased its position in Arbe Robotics by 77.7% during the 2nd quarter. Geode Capital Management LLC now owns 94,209 shares of the company’s stock worth $168,000 after purchasing an additional 41,184 shares in the last quarter. Invesco Ltd. purchased a new position in Arbe Robotics in the second quarter valued at approximately $41,000. Finally, Sender Co & Partners Inc. acquired a new position in Arbe Robotics during the second quarter valued at approximately $154,000. Hedge funds and other institutional investors 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.