Insider Selling: Arbe Robotics (NASDAQ:ARBE) CTO Sells $22,554.00 in Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 35,800 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $0.63, for a total value of $22,554.00. Following the completion of the transaction, the chief technology officer owned 1,525,482 shares of the company’s stock, valued at $961,053.66. This represents a 2.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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, September 8th, Noam Arkind sold 278,800 shares of Arbe Robotics stock. The shares were sold at an average price of $0.78, for a total value of $217,464.00.
• On Friday, September 4th, Noam Arkind sold 22,700 shares of Arbe Robotics stock. The shares were sold at an average price of $0.63, for a total value of $14,301.00.
• 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

Shares of NASDAQ:ARBE opened at $0.78 on Monday. Arbe Robotics Ltd. has a fifty-two week low of $0.55 and a fifty-two week high of $2.88. The business has a 50-day simple moving average of $0.72 and a two-hundred day simple moving average of $0.79. The firm has a market cap of $96.11 million, a price-to-earnings ratio of -2.30 and a beta of 1.12.

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

Hedge Funds Weigh In On Arbe Robotics

A number of large investors have recently added to or reduced their stakes in ARBE. AWM Investment Company Inc. bought a new stake in shares of Arbe Robotics in the 2nd quarter valued at about $4,570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in 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 acquiring an additional 3,162,282 shares during the last quarter. Alyeska Investment Group L.P. lifted its position in 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 acquiring an additional 1,109,047 shares during the last quarter. AlphaCentric Advisors LLC acquired a new stake in Arbe Robotics in the first quarter valued at approximately $183,000. Finally, XTX Topco Ltd boosted its stake in Arbe Robotics by 56.2% in the fourth quarter. XTX Topco Ltd now owns 275,728 shares of the company’s stock valued at $325,000 after acquiring an additional 99,206 shares in the last quarter. 33.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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