Arbe Robotics (NASDAQ:ARBE) CTO Sells $217,464.00 in Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 278,800 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $0.78, for a total transaction of $217,464.00. Following the completion of the sale, the chief technology officer owned 1,223,982 shares in the company, valued at $954,705.96. This represents a 18.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Friday, September 4th, Noam Arkind sold 22,700 shares of Arbe Robotics stock. The stock was sold at an average price of $0.63, for a total transaction of $14,301.00.
• 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 value 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 shares were sold at an average price of $0.64, for a total value of $20,288.00.

Arbe Robotics Stock Performance

NASDAQ:ARBE opened at $0.78 on Monday. The firm has a market cap of $96.11 million, a P/E ratio of -2.30 and a beta of 1.12. The firm’s fifty day moving average is $0.72 and its 200-day moving average is $0.79. Arbe Robotics Ltd. has a 52 week low of $0.55 and a 52 week high of $2.88.

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

Hedge Funds Weigh In On Arbe Robotics

A number of large investors have recently modified their holdings of the company. AWM Investment Company Inc. bought a new stake in Arbe Robotics during the 2nd quarter valued at $4,570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Arbe Robotics by 187.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,849,154 shares of the company’s stock valued at $4,995,000 after buying an additional 3,162,282 shares in the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of Arbe Robotics by 36.9% during the third quarter. Alyeska Investment Group L.P. now owns 4,116,822 shares of the company’s stock valued at $6,793,000 after buying an additional 1,109,047 shares during the last quarter. AlphaCentric Advisors LLC bought a new stake in shares of Arbe Robotics during the first quarter worth about $183,000. Finally, XTX Topco Ltd increased its position in shares of Arbe Robotics by 56.2% during the fourth quarter. XTX Topco Ltd now owns 275,728 shares of the company’s stock worth $325,000 after acquiring an additional 99,206 shares in the last quarter. 33.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ARBE. Canaccord Genuity Group set a $2.00 price target on shares of Arbe Robotics in a report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Arbe Robotics in a research report on Tuesday, August 18th. Finally, Wall Street Zen downgraded Arbe Robotics from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $2.75.

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.