Arbe Robotics (NASDAQ:ARBE) CTO Noam Arkind Sells 22,700 Shares of Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 22,700 shares of Arbe Robotics stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $0.63, for a total transaction of $14,301.00. Following the completion of the transaction, the chief technology officer directly owned 1,502,782 shares of the company’s stock, valued at $946,752.66. This trade represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Noam Arkind also recently made the following trade(s):

• On Tuesday, September 8th, Noam Arkind sold 278,800 shares of Arbe Robotics stock. The stock was sold at an average price of $0.78, for a total transaction of $217,464.00.
• On Thursday, September 3rd, Noam Arkind sold 35,800 shares of Arbe Robotics stock. The stock was sold at an average price of $0.63, for a total transaction of $22,554.00.
• On Thursday, September 3rd, Noam Arkind sold 31,000 shares of Arbe Robotics stock. The shares were sold at an average price of $0.64, for a total value of $19,840.00.
• On Wednesday, September 2nd, Noam Arkind sold 31,700 shares of Arbe Robotics stock. The stock was sold at an average price of $0.64, for a total value of $20,288.00.

Arbe Robotics Stock Performance

ARBE stock opened at $0.78 on Friday. Arbe Robotics Ltd. has a 1 year low of $0.55 and a 1 year high of $2.88. The stock has a market capitalization of $96.11 million, a price-to-earnings ratio of -2.30 and a beta of 1.12. The stock’s fifty day moving average is $0.72 and its two-hundred day moving average is $0.80.

Arbe Robotics (NASDAQ:ARBE) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $0.70 million for the quarter, compared to analyst estimates of $0.54 million. Arbe Robotics had a negative net margin of 2,116.84% and a negative return on equity of 90.93%.

Hedge Funds Weigh In On Arbe Robotics

Several hedge funds have recently made changes to their positions in the business. Resurgent Financial Advisors LLC acquired a new stake in Arbe Robotics during the third quarter valued at approximately $30,000. Invesco Ltd. acquired a new position in shares of Arbe Robotics in the 2nd quarter worth $41,000. Goldman Sachs Group Inc. acquired a new position in shares of Arbe Robotics in the 4th quarter worth $46,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Arbe Robotics during the first quarter worth $63,000. Finally, Sender Co & Partners Inc. acquired a new stake in shares of Arbe Robotics during the second quarter worth $154,000. Institutional investors and hedge funds own 33.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ARBE shares. Canaccord Genuity Group set a $2.00 price target on Arbe Robotics in a report on Friday. Wall Street Zen downgraded shares of Arbe Robotics from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Arbe Robotics in a research report on Tuesday, August 18th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.75.

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.