Arbe Robotics (NASDAQ:ARBE) Announces Earnings Results

Arbe Robotics (NASDAQ:ARBE) announced its earnings results on Thursday. The company reported ($0.09) earnings per share (EPS) for the quarter, Zacks reports. Arbe Robotics had a negative return on equity of 82.00% and a negative net margin of 4,402.73%.

Arbe Robotics Stock Performance

Shares of ARBE stock opened at $1.23 on Thursday. Arbe Robotics has a one year low of $0.55 and a one year high of $2.88. The company has a 50 day moving average price of $0.81 and a 200 day moving average price of $1.07. The firm has a market capitalization of $150.86 million, a price-to-earnings ratio of -3.00 and a beta of 0.98.

Hedge Funds Weigh In On Arbe Robotics

Several institutional investors and hedge funds have recently bought and sold shares of ARBE. Cubist Systematic Strategies LLC acquired a new position in Arbe Robotics during the first quarter worth approximately $63,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Arbe Robotics by 187.5% during 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 valued at $4,995,000 after acquiring an additional 3,162,282 shares during the period. Geode Capital Management LLC increased its stake in Arbe Robotics by 77.7% during the second quarter. Geode Capital Management LLC now owns 94,209 shares of the company’s stock worth $168,000 after acquiring an additional 41,184 shares during the last quarter. Invesco Ltd. acquired a new stake in Arbe Robotics during the second quarter worth about $41,000. Finally, Sender Co & Partners Inc. acquired a new stake in Arbe Robotics during the second quarter worth about $154,000. Institutional investors and hedge funds own 33.42% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Weiss Ratings raised Arbe Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 21st. Canaccord Genuity Group reduced their price target on Arbe Robotics from $1.75 to $1.25 and set a “buy” rating on the stock in a research note on Friday, February 27th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Arbe Robotics currently has an average rating of “Moderate Buy” and an average price target of $2.25.

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.