Insider Selling: Arbe Robotics (NASDAQ:ARBE) CTO Sells $20,288.00 in Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 31,700 shares of Arbe Robotics stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $0.64, for a total value of $20,288.00. Following the completion of the sale, the chief technology officer owned 1,592,282 shares in the company, valued at $1,019,060.48. This represents a 1.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 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.

Arbe Robotics Stock Performance

Shares of ARBE opened at $0.64 on Friday. The company’s 50-day simple moving average is $0.72 and its 200-day simple moving average is $0.81. 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 $77.94 million, a PE ratio of -1.87 and a beta of 1.12.

Arbe Robotics (NASDAQ:ARBE) last released its 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. The firm had revenue of $0.70 million during the quarter, compared to analyst estimates of $0.54 million. Arbe Robotics had a negative return on equity of 90.93% and a negative net margin of 2,116.84%.

Institutional Investors Weigh In On Arbe Robotics

A number of institutional investors and hedge funds have recently made changes to their positions in ARBE. Cubist Systematic Strategies LLC purchased a new stake in Arbe Robotics during the 1st quarter valued at approximately $63,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of 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 valued at $4,995,000 after purchasing an additional 3,162,282 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Arbe Robotics by 77.7% in the second quarter. Geode Capital Management LLC now owns 94,209 shares of the company’s stock valued at $168,000 after purchasing an additional 41,184 shares during the period. Invesco Ltd. acquired a new position in shares of Arbe Robotics in the second quarter valued at approximately $41,000. Finally, Sender Co & Partners Inc. purchased a new stake in shares of Arbe Robotics during the second quarter worth approximately $154,000. 33.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ARBE shares. Canaccord Genuity Group set a $1.25 price objective on Arbe Robotics in a report on Friday, August 7th. Wall Street Zen lowered shares of Arbe Robotics from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Weiss Ratings restated 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 company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2.38.

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.