Noam Arkind Sells 175,862 Shares of Arbe Robotics (NASDAQ:ARBE) Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 175,862 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1.18, for a total value of $207,517.16. Following the transaction, the chief technology officer owned 1,648,120 shares in the company, valued at $1,944,781.60. The trade was a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 Wednesday, June 3rd, Noam Arkind sold 24,138 shares of Arbe Robotics stock. The stock was sold at an average price of $1.09, for a total value of $26,310.42.

Arbe Robotics Price Performance

Shares of NASDAQ:ARBE traded down $0.16 during trading on Friday, reaching $0.91. 4,805,857 shares of the stock were exchanged, compared to its average volume of 4,637,679. Arbe Robotics Ltd. has a 1-year low of $0.55 and a 1-year high of $2.88. The stock has a fifty day moving average of $0.86 and a two-hundred day moving average of $1.05. The firm has a market cap of $111.61 million, a price-to-earnings ratio of -2.53 and a beta of 1.06.

Arbe Robotics (NASDAQ:ARBE) last issued its earnings results on Thursday, May 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Arbe Robotics had a negative return on equity of 83.44% and a negative net margin of 2,817.97%.The firm had revenue of $0.46 million for the quarter, compared to analyst estimates of $0.48 million.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ARBE shares. Canaccord Genuity Group upped their target price on Arbe Robotics to $1.50 and gave the stock a “buy” rating in a research report on Friday, May 29th. Weiss Ratings raised Arbe Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $2.33.

Institutional Investors Weigh In On Arbe Robotics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in 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 valued at $4,995,000 after buying an additional 3,162,282 shares during the last quarter. Alyeska Investment Group L.P. raised its position in 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 valued at $6,793,000 after buying an additional 1,109,047 shares during the last quarter. AlphaCentric Advisors LLC purchased a new stake in Arbe Robotics in the 1st quarter valued at $183,000. XTX Topco Ltd raised its position in Arbe Robotics by 56.2% in the 4th quarter. XTX Topco Ltd now owns 275,728 shares of the company’s stock valued at $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 in the 4th quarter valued at $315,000. 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.