Arbe Robotics (NASDAQ:ARBE) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Arbe Robotics (NASDAQ:ARBE) had its target price lifted by Canaccord Genuity Group to $1.50 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 34.53% from the stock’s previous close.

Separately, Weiss Ratings upgraded Arbe Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 21st. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2.33.

Arbe Robotics Trading Down 7.9%

NASDAQ ARBE traded down $0.10 during mid-day trading on Friday, hitting $1.12. The company’s stock had a trading volume of 5,160,637 shares, compared to its average volume of 3,580,094. The company’s 50 day simple moving average is $0.82 and its 200 day simple moving average is $1.07. Arbe Robotics has a twelve month low of $0.55 and a twelve month high of $2.88. The firm has a market capitalization of $136.75 million, a price-to-earnings ratio of -2.74 and a beta of 0.98.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ARBE. Cubist Systematic Strategies LLC bought a new stake in Arbe Robotics during the first quarter worth $63,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings 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 worth $4,995,000 after acquiring an additional 3,162,282 shares during the period. Geode Capital Management LLC lifted its holdings 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 period. Invesco Ltd. bought a new stake in Arbe Robotics during the second quarter worth $41,000. Finally, Sender Co & Partners Inc. bought a new stake in Arbe Robotics during the second quarter worth $154,000. Institutional investors own 33.42% of the company’s stock.

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.