Arbe Robotics (NASDAQ:ARBE) CTO Noam Arkind Sells 24,138 Shares

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 24,138 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $1.09, for a total value of $26,310.42. Following the completion of the transaction, the chief technology officer owned 1,623,982 shares in the company, valued at approximately $1,770,140.38. This trade represents a 1.46% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 Tuesday, June 2nd, Noam Arkind sold 175,862 shares of Arbe Robotics stock. The shares were sold at an average price of $1.18, for a total value of $207,517.16.

Arbe Robotics Trading Down 15.0%

NASDAQ ARBE traded down $0.16 on Friday, hitting $0.91. 4,805,857 shares of the stock traded hands, compared to its average volume of 4,637,679. The stock has a 50-day moving average of $0.86 and a 200 day moving average of $1.05. Arbe Robotics Ltd. has a twelve month low of $0.55 and a twelve month high of $2.88. The company has a market capitalization of $111.61 million, a P/E ratio of -2.53 and a beta of 1.06.

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

Hedge Funds Weigh In On Arbe Robotics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Resurgent Financial Advisors LLC bought a new position in Arbe Robotics in the 3rd quarter worth approximately $30,000. Invesco Ltd. bought a new position in Arbe Robotics in the 2nd quarter worth approximately $41,000. Ashton Thomas Private Wealth LLC grew its holdings in Arbe Robotics by 200.0% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 30,000 shares of the company’s stock worth $35,000 after buying an additional 20,000 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in Arbe Robotics in the 4th quarter worth approximately $46,000. Finally, Cubist Systematic Strategies LLC bought a new position in Arbe Robotics in the 1st quarter worth approximately $63,000. 33.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ARBE. Canaccord Genuity Group upped their price objective on Arbe Robotics to $1.50 and gave the company a “buy” rating in a research note on Friday, May 29th. Weiss Ratings upgraded Arbe Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Arbe Robotics presently has a consensus rating of “Moderate Buy” and an average target price of $2.33.

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.