Arbe Robotics (NASDAQ:ARBE) Stock Price Down 0.8% – Here’s Why

Arbe Robotics Ltd. (NASDAQ:ARBE) was down 0.8% on Wednesday . The company traded as low as $2.37 and last traded at $2.48. Approximately 3,567,867 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 19,843,059 shares. The stock had previously closed at $2.50.

Analysts Set New Price Targets

Separately, Maxim Group reduced their price objective on Arbe Robotics from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday, November 29th.

Arbe Robotics Trading Up 0.7 %

The company has a market capitalization of $247.75 million, a price-to-earnings ratio of -3.72 and a beta of 0.01. The company’s 50 day simple moving average is $2.35 and its 200-day simple moving average is $2.08.

Arbe Robotics (NASDAQ:ARBE) last announced its quarterly earnings data on Wednesday, November 27th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Arbe Robotics had a negative net margin of 4,567.91% and a negative return on equity of 102.87%. During the same quarter in the previous year, the company posted ($0.12) EPS. Sell-side analysts anticipate that Arbe Robotics Ltd. will post -0.58 EPS for the current year.

Institutional Trading of Arbe Robotics

An institutional investor recently raised its position in Arbe Robotics stock. Ground Swell Capital LLC lifted its stake in shares of Arbe Robotics Ltd. (NASDAQ:ARBE) by 114.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,024 shares of the company’s stock after acquiring an additional 20,324 shares during the period. Ground Swell Capital LLC’s holdings in Arbe Robotics were worth $73,000 as of its most recent SEC filing. 33.42% of the stock is owned by institutional investors.

About Arbe Robotics

Arbe Robotics Ltd., a semiconductor company, provides 4D imaging radar solutions for tier 1 automotive suppliers and automotive manufacturers in China, Hong Kong, Sweden, Germany, the United States, Israel, and internationally. It offers 4D imaging radar chipset solutions that address the core issues that have caused autonomous vehicle and autopilot accidents, such as detecting stationary objects, identifying vulnerable road users, operation at poor lighting conditions, and eliminating false alarms without radar ambiguities.