Saba Capital Management L.P. Acquires 485,613 Shares of Arbe Robotics Ltd. (NASDAQ:ARBE)

Saba Capital Management L.P. grew its stake in shares of Arbe Robotics Ltd. (NASDAQ:ARBE) by 40.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,676,725 shares of the company’s stock after buying an additional 485,613 shares during the period. Saba Capital Management L.P. owned approximately 1.86% of Arbe Robotics worth $3,119,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Walleye Capital LLC acquired a new position in Arbe Robotics in the fourth quarter valued at approximately $25,000. Two Sigma Securities LLC acquired a new position in Arbe Robotics in the 4th quarter valued at about $37,000. Jane Street Group LLC acquired a new position in Arbe Robotics in the 4th quarter valued at about $48,000. Geode Capital Management LLC boosted its holdings in Arbe Robotics by 22.3% in the 4th quarter. Geode Capital Management LLC now owns 53,025 shares of the company’s stock valued at $99,000 after purchasing an additional 9,658 shares during the period. Finally, DnB Asset Management AS lifted its holdings in shares of Arbe Robotics by 26.9% during the 4th quarter. DnB Asset Management AS now owns 129,742 shares of the company’s stock worth $241,000 after acquiring an additional 27,531 shares during the period. Institutional investors and hedge funds own 33.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on ARBE shares. Maxim Group cut shares of Arbe Robotics from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Canaccord Genuity Group assumed coverage on shares of Arbe Robotics in a research report on Tuesday, April 1st. They issued a “buy” rating and a $1.75 price objective on the stock.

Arbe Robotics Stock Up 19.6%

Shares of ARBE opened at $1.77 on Friday. Arbe Robotics Ltd. has a 52 week low of $0.85 and a 52 week high of $5.09. The stock has a market cap of $159.47 million, a P/E ratio of -2.39 and a beta of 0.30. The business’s 50 day moving average price is $1.23 and its 200-day moving average price is $1.84.

Arbe Robotics (NASDAQ:ARBE) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The company had revenue of $0.10 million during the quarter, compared to analysts’ expectations of $0.40 million. Arbe Robotics had a negative return on equity of 102.87% and a negative net margin of 4,567.91%. During the same quarter last year, the company earned ($0.07) earnings per share. On average, equities analysts anticipate that Arbe Robotics Ltd. will post -0.58 EPS for the current year.

Arbe Robotics Profile

Arbe Robotics Ltd., a semiconductor company, provides 4D imaging radar solutions for tier 1 automotive suppliers and automotive manufacturers in China, Hong Kong, Sweden, Germany, the United States, Israel, and internationally. It offers 4D imaging radar chipset solutions that address the core issues that have caused autonomous vehicle and autopilot accidents, such as detecting stationary objects, identifying vulnerable road users, operation at poor lighting conditions, and eliminating false alarms without radar ambiguities.