Arbe Robotics (NASDAQ:ARBE) Issues Quarterly Earnings Results

Arbe Robotics (NASDAQ:ARBE) announced its quarterly earnings results on Thursday. The company reported ($0.09) earnings per share for the quarter, Zacks reports. Arbe Robotics had a negative net margin of 4,402.73% and a negative return on equity of 82.00%.

Arbe Robotics Stock Up 7.0%

Shares of NASDAQ:ARBE opened at $1.23 on Thursday. The company has a 50 day moving average of $0.81 and a two-hundred day moving average of $1.07. The company has a market capitalization of $150.86 million, a price-to-earnings ratio of -3.00 and a beta of 0.98. Arbe Robotics has a 52-week low of $0.55 and a 52-week high of $2.88.

Analysts Set New Price Targets

ARBE has been the topic of a number of recent research reports. Canaccord Genuity Group reduced their price target on shares of Arbe Robotics from $1.75 to $1.25 and set a “buy” rating on the stock in a research report on Friday, February 27th. Weiss Ratings raised shares of Arbe Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 21st. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2.25.

Hedge Funds Weigh In On Arbe Robotics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC boosted its position in Arbe Robotics by 51.4% in the 4th quarter. Resurgent Financial Advisors LLC now owns 27,100 shares of the company’s stock valued at $32,000 after buying an additional 9,200 shares during the last quarter. Sender Co & Partners Inc. raised its position in shares of Arbe Robotics by 19.6% in the 3rd quarter. Sender Co & Partners Inc. now owns 103,620 shares of the company’s stock valued at $171,000 after purchasing an additional 16,991 shares in the last quarter. Two Sigma Investments LP raised its position in shares of Arbe Robotics by 25.2% in the 3rd quarter. Two Sigma Investments LP now owns 109,283 shares of the company’s stock valued at $180,000 after purchasing an additional 21,990 shares in the last quarter. Invesco Ltd. acquired a new position in shares of Arbe Robotics in the 2nd quarter valued at approximately $41,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Arbe Robotics in the 4th quarter valued at approximately $46,000. 33.42% of the stock is owned by hedge funds and other institutional investors.

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.