Noam Arkind Sells 31,700 Shares of Arbe Robotics (NASDAQ:ARBE) Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 31,700 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $0.64, for a total transaction of $20,288.00. Following the completion of the transaction, the chief technology officer owned 1,592,282 shares of the company’s stock, valued at approximately $1,019,060.48. The trade was a 1.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, September 3rd, Noam Arkind sold 31,000 shares of Arbe Robotics stock. The shares were sold at an average price of $0.64, for a total value of $19,840.00.

Arbe Robotics Trading Up 1.7%

Shares of ARBE opened at $0.64 on Friday. The business’s fifty day simple moving average is $0.72 and its two-hundred day simple moving average is $0.81. Arbe Robotics Ltd. has a 12 month low of $0.55 and a 12 month high of $2.88. The company has a market cap of $77.94 million, a price-to-earnings ratio of -1.87 and a beta of 1.12.

Arbe Robotics (NASDAQ:ARBE) last posted its quarterly 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. The firm had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.54 million. Arbe Robotics had a negative return on equity of 90.93% and a negative net margin of 2,116.84%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ARBE. AWM Investment Company Inc. purchased a new stake in Arbe Robotics in the 2nd quarter worth $4,570,000. AlphaCentric Advisors LLC purchased a new position in shares of Arbe Robotics in the first quarter valued at about $183,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Arbe Robotics in the fourth quarter worth about $315,000. Aristides Capital LLC bought a new position in shares of Arbe Robotics in the fourth quarter worth about $180,000. Finally, XTX Topco Ltd grew its position in shares of Arbe Robotics by 56.2% during the fourth quarter. XTX Topco Ltd now owns 275,728 shares of the company’s stock worth $325,000 after purchasing an additional 99,206 shares in the last quarter. Institutional investors own 33.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ARBE. Weiss Ratings reissued a “sell (d-)” rating on shares of Arbe Robotics in a report on Tuesday, August 18th. Wall Street Zen cut Arbe Robotics from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Canaccord Genuity Group set a $1.25 price objective on Arbe Robotics in a research note on Friday, August 7th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.38.

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.