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

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 175,862 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $1.18, for a total transaction of $207,517.16. Following the transaction, the chief technology officer directly owned 1,648,120 shares of the company’s stock, valued at $1,944,781.60. The trade was a 9.64% decrease in their position. The transaction was disclosed in a legal 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 shares were sold at an average price of $1.09, for a total transaction of $26,310.42.

Arbe Robotics Stock Performance

ARBE stock opened at $0.91 on Friday. The company has a fifty day moving average price of $0.86 and a 200-day moving average price of $1.05. The company has a market capitalization of $111.61 million, a P/E ratio of -2.53 and a beta of 1.06. Arbe Robotics Ltd. has a 52-week low of $0.55 and a 52-week high of $2.88.

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

Institutional Investors Weigh In On Arbe Robotics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in 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 valued at $4,995,000 after purchasing an additional 3,162,282 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in Arbe Robotics by 36.9% in the third 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 in the last quarter. AlphaCentric Advisors LLC bought a new stake in Arbe Robotics in the first quarter valued at $183,000. XTX Topco Ltd increased its stake in Arbe Robotics by 56.2% in the fourth quarter. XTX Topco Ltd now owns 275,728 shares of the company’s stock valued at $325,000 after purchasing an additional 99,206 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Arbe Robotics in the fourth quarter valued at $315,000. 33.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

ARBE has been the subject of several analyst reports. Weiss Ratings raised shares of Arbe Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 21st. Canaccord Genuity Group lifted their target price on shares of Arbe Robotics to $1.50 and gave the stock a “buy” rating in a research note on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $2.33.

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.