Arbe Robotics (NASDAQ:ARBE) CTO Noam Arkind Sells 31,000 Shares of Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 31,000 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $0.64, for a total transaction of $19,840.00. Following the sale, the chief technology officer owned 1,561,282 shares of the company’s stock, valued at approximately $999,220.48. The trade was a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Noam Arkind also recently made the following trade(s):

• 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 transaction of $20,288.00.

Arbe Robotics Price Performance

NASDAQ:ARBE opened at $0.62 on Friday. The firm has a market capitalization of $76.63 million, a price-to-earnings ratio of -1.84 and a beta of 1.12. The company’s 50-day moving average is $0.72 and its two-hundred day moving average is $0.81. Arbe Robotics Ltd. has a 1-year low of $0.55 and a 1-year high of $2.88.

Arbe Robotics (NASDAQ:ARBE) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $0.70 million during the quarter, compared to the consensus estimate of $0.54 million. Arbe Robotics had a negative net margin of 2,116.84% and a negative return on equity of 90.93%.

Hedge Funds Weigh In On Arbe Robotics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Resurgent Financial Advisors LLC grew 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 acquiring an additional 9,200 shares in the last quarter. Sender Co & Partners Inc. lifted its position in shares of Arbe Robotics by 19.6% during the third quarter. Sender Co & Partners Inc. now owns 103,620 shares of the company’s stock worth $171,000 after purchasing an additional 16,991 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of Arbe Robotics by 25.2% in the third 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 during the period. Invesco Ltd. purchased a new position in shares of Arbe Robotics in the second quarter valued at approximately $41,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Arbe Robotics in the fourth quarter valued at approximately $46,000. 33.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on ARBE shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Arbe Robotics in a research note on Tuesday, August 18th. Canaccord Genuity Group set a $1.25 price target on Arbe Robotics in a research note on Friday, August 7th. Finally, Wall Street Zen downgraded Arbe Robotics from a “hold” rating to a “sell” rating in a research 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, the stock has an average rating of “Hold” and an average price target of $2.38.

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.