Brokerages Set Arbe Robotics Ltd. (NASDAQ:ARBE) Price Target at $2.42

Arbe Robotics Ltd. (NASDAQ:ARBE) has been given an average recommendation of “Moderate Buy” by the four ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $2.25.

Several brokerages have recently issued reports on ARBE. Canaccord Genuity Group lowered their price target on Arbe Robotics from $1.75 to $1.25 and set a “buy” rating on the stock in a research report on Friday, February 27th. Westpark Capital began coverage on Arbe Robotics in a research note on Thursday, January 8th. They set a “buy” rating and a $3.50 target price for the company.

Arbe Robotics Price Performance

NASDAQ ARBE opened at $0.83 on Friday. Arbe Robotics has a 12 month low of $0.76 and a 12 month high of $2.88. The firm has a market capitalization of $90.25 million, a PE ratio of -2.02 and a beta of 0.59. The company’s 50 day simple moving average is $1.17 and its 200 day simple moving average is $1.44.

Hedge Funds Weigh In On Arbe Robotics

Large investors have recently made changes to their positions in the business. Invesco Ltd. bought a new stake in shares of Arbe Robotics in the 2nd quarter worth approximately $41,000. Cubist Systematic Strategies LLC bought a new stake in Arbe Robotics during the first quarter worth approximately $63,000. HRT Financial LP acquired a new position in Arbe Robotics in the fourth quarter worth approximately $118,000. Geode Capital Management LLC increased its holdings in shares of Arbe Robotics by 77.7% in the second quarter. Geode Capital Management LLC now owns 94,209 shares of the company’s stock valued at $168,000 after buying an additional 41,184 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings 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. 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.