Arbe Robotics (NASDAQ:ARBE) CTO Sells $207,517.16 in Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 175,862 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $1.18, for a total transaction of $207,517.16. Following the transaction, the chief technology officer directly owned 1,648,120 shares of the company’s stock, valued at approximately $1,944,781.60. This represents a 9.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, June 3rd, Noam Arkind sold 24,138 shares of Arbe Robotics stock. The shares were sold at an average price of $1.09, for a total transaction of $26,310.42.

Arbe Robotics Stock Performance

Shares of NASDAQ:ARBE opened at $0.91 on Monday. The company has a 50 day moving average of $0.86 and a 200 day moving average of $1.05. The stock has a market cap of $111.61 million, a P/E ratio of -2.53 and a beta of 1.06. Arbe Robotics Ltd. has a 12 month low of $0.55 and a 12 month high of $2.88.

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

Hedge Funds Weigh In On Arbe Robotics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Arbe Robotics by 187.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,849,154 shares of the company’s stock worth $4,995,000 after buying an additional 3,162,282 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in Arbe Robotics by 36.9% in the 3rd quarter. Alyeska Investment Group L.P. now owns 4,116,822 shares of the company’s stock worth $6,793,000 after buying an additional 1,109,047 shares in the last quarter. AlphaCentric Advisors LLC purchased a new position in Arbe Robotics in the 1st quarter worth approximately $183,000. XTX Topco Ltd grew its stake in Arbe Robotics by 56.2% in the 4th quarter. XTX Topco Ltd now owns 275,728 shares of the company’s stock worth $325,000 after buying an additional 99,206 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Arbe Robotics in the 4th quarter worth approximately $315,000. Hedge funds and other institutional investors own 33.42% of the company’s stock.

Wall Street Analyst Weigh In

ARBE has been the subject of a number of research reports. Weiss Ratings raised shares of Arbe Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 21st. Canaccord Genuity Group boosted their price target on shares of Arbe Robotics to $1.50 and gave the stock a “buy” rating in a research note on Friday, May 29th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2.33.

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.