Canaccord Genuity Group Forecasts Strong Price Appreciation for Arbe Robotics (NASDAQ:ARBE) Stock

Arbe Robotics (NASDAQ:ARBE) had its price target upped by investment analysts at Canaccord Genuity Group to $1.50 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 34.53% from the company’s current price.

Separately, Weiss Ratings raised Arbe Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $2.33.

Arbe Robotics Stock Down 7.9%

Shares of NASDAQ:ARBE traded down $0.10 during trading on Friday, hitting $1.12. The stock had a trading volume of 5,160,637 shares, compared to its average volume of 3,580,094. Arbe Robotics has a 12 month low of $0.55 and a 12 month high of $2.88. The company has a market capitalization of $136.75 million, a PE ratio of -2.74 and a beta of 0.98. The firm’s fifty day moving average is $0.82 and its 200 day moving average is $1.07.

Institutional Trading of Arbe Robotics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. 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 worth $4,995,000 after buying an additional 3,162,282 shares during the last quarter. Alyeska Investment Group L.P. grew its stake in shares of 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 during the last quarter. AlphaCentric Advisors LLC purchased a new stake in shares of Arbe Robotics in the 1st quarter worth approximately $183,000. XTX Topco Ltd grew its stake in shares of 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 during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Arbe Robotics during the 4th quarter valued at $315,000. Hedge funds and other institutional investors own 33.42% of the company’s stock.

Arbe Robotics Company Profile

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.