Arbe Robotics (NASDAQ:ARBE) Research Coverage Started at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Arbe Robotics (NASDAQ:ARBE) in a report released on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $1.75 target price on the stock.

Separately, Maxim Group downgraded Arbe Robotics from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th.

Arbe Robotics Price Performance

NASDAQ ARBE opened at $1.01 on Tuesday. The company has a 50 day simple moving average of $1.90 and a 200-day simple moving average of $2.00. Arbe Robotics has a 52-week low of $0.97 and a 52-week high of $5.09. The firm has a market capitalization of $90.99 million, a price-to-earnings ratio of -1.36 and a beta of 0.08.

Arbe Robotics (NASDAQ:ARBE) last issued its earnings results on Wednesday, March 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Arbe Robotics had a negative net margin of 4,567.91% and a negative return on equity of 102.87%. The company had revenue of $0.10 million for the quarter, compared to analyst estimates of $0.40 million. During the same period last year, the business earned ($0.07) EPS. On average, analysts predict that Arbe Robotics will post -0.58 EPS for the current year.

Institutional Investors Weigh In On Arbe Robotics

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in shares of Arbe Robotics by 22.3% in the fourth quarter. Geode Capital Management LLC now owns 53,025 shares of the company’s stock worth $99,000 after buying an additional 9,658 shares during the last quarter. Walleye Capital LLC acquired a new stake in Arbe Robotics in the 4th quarter worth approximately $25,000. Two Sigma Securities LLC bought a new stake in Arbe Robotics during the fourth quarter worth approximately $37,000. Wolverine Trading LLC acquired a new position in Arbe Robotics during the fourth quarter valued at approximately $38,000. Finally, Jane Street Group LLC bought a new position in shares of Arbe Robotics in the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 33.42% of the company’s stock.

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.