Noam Arkind Sells 22,700 Shares of Arbe Robotics (NASDAQ:ARBE) Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 22,700 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $0.63, for a total transaction of $14,301.00. Following the completion of the sale, the chief technology officer owned 1,502,782 shares in the company, valued at approximately $946,752.66. The trade was a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 8th, Noam Arkind sold 278,800 shares of Arbe Robotics stock. The shares were sold at an average price of $0.78, for a total transaction of $217,464.00.
• On Thursday, September 3rd, Noam Arkind sold 35,800 shares of Arbe Robotics stock. The stock was sold at an average price of $0.63, for a total transaction of $22,554.00.
• 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 transaction of $19,840.00.
• On Wednesday, September 2nd, Noam Arkind sold 31,700 shares of Arbe Robotics stock. The shares were sold at an average price of $0.64, for a total transaction of $20,288.00.

Arbe Robotics Price Performance

Shares of Arbe Robotics stock opened at $0.78 on Friday. The company’s 50 day moving average price is $0.72 and its two-hundred day moving average price is $0.80. The firm has a market capitalization of $96.11 million, a P/E ratio of -2.30 and a beta of 1.12. Arbe Robotics Ltd. has a fifty-two week low of $0.55 and a fifty-two week 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 the consensus estimate of ($0.08) by $0.02. Arbe Robotics had a negative net margin of 2,116.84% and a negative return on equity of 90.93%. The company had revenue of $0.70 million during the quarter, compared to the consensus estimate of $0.54 million.

Institutional Investors Weigh In On Arbe Robotics

A number of institutional investors have recently made changes to their positions in ARBE. AWM Investment Company Inc. bought a new position in shares of Arbe Robotics during the second quarter worth about $4,570,000. AlphaCentric Advisors LLC acquired a new position in shares of Arbe Robotics in the first quarter worth approximately $183,000. Caitong International Asset Management Co. Ltd bought a new stake in Arbe Robotics in the fourth quarter valued at approximately $315,000. Aristides Capital LLC bought a new stake in Arbe Robotics in the fourth quarter valued at approximately $180,000. Finally, XTX Topco Ltd raised its holdings in Arbe Robotics by 56.2% during the 4th quarter. XTX Topco Ltd now owns 275,728 shares of the company’s stock worth $325,000 after purchasing an additional 99,206 shares during the last quarter. Institutional investors own 33.42% of the company’s stock.

Analyst Ratings Changes

ARBE has been the subject of several research reports. Canaccord Genuity Group set a $2.00 target price on Arbe Robotics in a research report on Friday. Wall Street Zen cut Arbe Robotics from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arbe Robotics in a research note on Tuesday, August 18th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $2.75.

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.