Analysts Set Arbe Robotics Ltd. (NASDAQ:ARBE) PT at $2.42

Arbe Robotics Ltd. (NASDAQ:ARBE) has been assigned a consensus recommendation of “Hold” from the five analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $2.4167.

A number of research firms have recently commented on ARBE. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $1.75 price target on shares of Arbe Robotics in a report on Tuesday, November 18th. Westpark Capital initiated coverage on Arbe Robotics in a research note on Thursday, January 8th. They set a “buy” rating and a $3.50 price objective on the stock.

Arbe Robotics Stock Up 15.4%

NASDAQ ARBE opened at $1.20 on Monday. The company’s 50 day moving average is $1.27 and its 200-day moving average is $1.49. The firm has a market cap of $131.03 million, a P/E ratio of -2.55 and a beta of 0.54. Arbe Robotics has a 12-month low of $0.85 and a 12-month high of $3.20.

Institutional Investors Weigh In On Arbe Robotics

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC bought a new stake in Arbe Robotics during the 2nd quarter worth approximately $105,000. Alyeska Investment Group L.P. boosted its holdings 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 purchasing an additional 1,109,047 shares during the period. Two Sigma Investments LP grew its position in shares of Arbe Robotics by 25.2% during the 3rd 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 in the last quarter. Geode Capital Management LLC grew its position in shares of Arbe Robotics by 77.7% during the 2nd quarter. Geode Capital Management LLC now owns 94,209 shares of the company’s stock valued at $168,000 after purchasing an additional 41,184 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Arbe Robotics by 187.5% in the first 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 purchasing an additional 3,162,282 shares during the period. 33.42% of the stock is owned by hedge funds and other institutional investors.

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.