Arbe Robotics (NASDAQ:ARBE) Stock Price Up 3.1% – Should You Buy?

Arbe Robotics Ltd. (NASDAQ:ARBE)’s stock price rose 3.1% during trading on Monday . The stock traded as high as $0.68 and last traded at $0.6705. Approximately 747,838 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 1,139,486 shares. The stock had previously closed at $0.6501.

Wall Street Analyst Weigh In

ARBE has been the subject of several analyst reports. Westpark Capital initiated coverage on Arbe Robotics in a research note on Thursday, January 8th. They issued a “buy” rating and a $3.50 price objective for the company. Canaccord Genuity Group dropped their price objective on Arbe Robotics from $1.75 to $1.25 and set a “buy” rating for the company in a research note on Friday, February 27th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2.25.

Arbe Robotics Price Performance

The firm has a 50-day moving average of $0.84 and a 200-day moving average of $1.30. The stock has a market cap of $92.85 million, a PE ratio of -1.85 and a beta of 0.70.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ARBE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Arbe Robotics by 187.5% during 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 purchasing an additional 3,162,282 shares in the last quarter. Alyeska Investment Group L.P. grew its position 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 purchasing an additional 1,109,047 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Arbe Robotics during the fourth quarter valued at about $315,000. Aristides Capital LLC purchased a new position in shares of Arbe Robotics during the fourth quarter valued at about $180,000. Finally, Squarepoint Ops LLC grew its position in shares of Arbe Robotics by 611.8% during the fourth quarter. Squarepoint Ops LLC now owns 137,313 shares of the company’s stock valued at $162,000 after purchasing an additional 118,021 shares in the last quarter. Hedge funds and other institutional investors own 33.42% of the company’s stock.

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.