Arbe Robotics (NASDAQ:ARBE) CTO Noam Arkind Sells 31,700 Shares of Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 31,700 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $0.64, for a total value of $20,288.00. Following the completion of the sale, the chief technology officer directly owned 1,592,282 shares of the company’s stock, valued at $1,019,060.48. The trade was a 1.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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.

Arbe Robotics Trading Down 0.8%

Shares of Arbe Robotics stock opened at $0.62 on Friday. Arbe Robotics Ltd. has a 12-month low of $0.55 and a 12-month high of $2.88. The company has a market cap of $76.63 million, a P/E ratio of -1.84 and a beta of 1.12. The company’s fifty day simple moving average is $0.72 and its two-hundred day simple moving average is $0.81.

Arbe Robotics (NASDAQ:ARBE) last posted its earnings results on Thursday, August 6th. The company reported ($0.06) 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 firm had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.54 million.

Institutional Investors Weigh In On Arbe Robotics

Hedge funds have recently bought and sold shares of the business. Resurgent Financial Advisors LLC bought a new position in shares of Arbe Robotics during the third quarter valued at approximately $30,000. Invesco Ltd. bought a new stake in shares of Arbe Robotics in the 2nd quarter worth approximately $41,000. Goldman Sachs Group Inc. bought a new stake in shares of Arbe Robotics in the 4th quarter worth approximately $46,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Arbe Robotics in the 1st quarter worth approximately $63,000. Finally, Sender Co & Partners Inc. purchased a new stake in shares of Arbe Robotics in the 2nd quarter worth approximately $154,000. Institutional investors own 33.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ARBE shares. Canaccord Genuity Group set a $1.25 target price on Arbe Robotics in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arbe Robotics in a research note on Tuesday, August 18th. Finally, Wall Street Zen cut Arbe Robotics from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $2.38.

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.