Arbe Robotics (NASDAQ:ARBE) CTO Noam Arkind Sells 278,800 Shares

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 278,800 shares of Arbe Robotics stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $0.78, for a total value of $217,464.00. Following the completion of the transaction, the chief technology officer owned 1,223,982 shares in the company, valued at $954,705.96. The trade was a 18.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 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 35,800 shares of Arbe Robotics stock. The shares were sold at an average price of $0.63, for a total value of $22,554.00.
• On Thursday, September 3rd, Noam Arkind sold 31,000 shares of Arbe Robotics stock. The stock was 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 Trading Up 2.9%

ARBE stock traded up $0.02 during mid-day trading on Friday, reaching $0.78. 1,468,318 shares of the stock traded hands, compared to its average volume of 3,450,257. Arbe Robotics Ltd. has a 52-week low of $0.55 and a 52-week high of $2.88. The stock’s fifty day moving average is $0.72 and its 200-day moving average is $0.80. The company has a market cap of $95.73 million, a P/E ratio of -2.30 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 for the quarter, topping the consensus estimate 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 business had revenue of $0.70 million for the quarter, compared to the consensus estimate of $0.54 million.

Analyst Ratings Changes

Several brokerages have issued reports on ARBE. Canaccord Genuity Group set a $2.00 target price on shares of Arbe Robotics in a research note on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arbe Robotics in a research report on Tuesday, August 18th. Finally, Wall Street Zen downgraded Arbe Robotics from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Arbe Robotics currently has a consensus rating of “Hold” and a consensus target price of $2.75.

Institutional Trading of Arbe Robotics

Institutional investors have recently made changes to their positions in the stock. Resurgent Financial Advisors LLC grew its position in Arbe Robotics by 51.4% in the fourth quarter. Resurgent Financial Advisors LLC now owns 27,100 shares of the company’s stock worth $32,000 after acquiring an additional 9,200 shares in the last quarter. Sender Co & Partners Inc. boosted its stake in shares of Arbe Robotics by 19.6% during the 3rd quarter. Sender Co & Partners Inc. now owns 103,620 shares of the company’s stock worth $171,000 after acquiring an additional 16,991 shares in the last quarter. Two Sigma Investments LP boosted its position in Arbe Robotics by 25.2% during the third quarter. Two Sigma Investments LP now owns 109,283 shares of the company’s stock worth $180,000 after purchasing an additional 21,990 shares during the period. Invesco Ltd. bought a new stake in shares of Arbe Robotics during the 2nd quarter worth $41,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Arbe Robotics in the fourth quarter valued at about $46,000. 33.42% of the stock is currently owned by institutional investors and hedge funds.

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.