Arbe Robotics (NASDAQ:ARBE) CTO Noam Arkind Sells 278,800 Shares

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 278,800 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $0.78, for a total value of $217,464.00. Following the sale, the chief technology officer owned 1,223,982 shares in the company, valued at $954,705.96. The trade was a 18.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 Friday, September 4th, Noam Arkind sold 22,700 shares of Arbe Robotics stock. The stock was sold at an average price of $0.63, for a total value of $14,301.00.
• On Thursday, September 3rd, Noam Arkind sold 35,800 shares of Arbe Robotics stock. The stock was sold at an average price of $0.63, for a total value of $22,554.00.
• On Thursday, September 3rd, Noam Arkind sold 31,000 shares of Arbe Robotics stock. The stock was sold at an average price of $0.64, for a total value of $19,840.00.
• On Wednesday, September 2nd, Noam Arkind sold 31,700 shares of Arbe Robotics stock. The shares were sold at an average price of $0.64, for a total value of $20,288.00.

Arbe Robotics Trading Up 3.3%

Shares of Arbe Robotics stock opened at $0.78 on Friday. The firm has a market capitalization of $96.11 million, a PE ratio of -2.30 and a beta of 1.12. Arbe Robotics Ltd. has a 12 month low of $0.55 and a 12 month high of $2.88. The business’s 50-day moving average price is $0.72 and its 200-day moving average price is $0.80.

Arbe Robotics (NASDAQ:ARBE) last released its earnings results on Thursday, August 6th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $0.70 million during the quarter, compared to the consensus estimate of $0.54 million. Arbe Robotics had a negative return on equity of 90.93% and a negative net margin of 2,116.84%.

Hedge Funds Weigh In On Arbe Robotics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Resurgent Financial Advisors LLC purchased a new position in Arbe Robotics in the 3rd quarter worth approximately $30,000. Invesco Ltd. purchased a new stake in shares of Arbe Robotics during the second quarter valued at approximately $41,000. Goldman Sachs Group Inc. bought a new position in shares of Arbe Robotics in the fourth quarter worth approximately $46,000. Cubist Systematic Strategies LLC bought a new position in shares of Arbe Robotics in the first quarter worth approximately $63,000. Finally, HRT Financial LP purchased a new position in shares of Arbe Robotics in the fourth quarter worth $118,000. 33.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group set a $2.00 price objective on shares of Arbe Robotics in a research note on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arbe Robotics in a report on Tuesday, August 18th. Finally, Wall Street Zen cut shares of Arbe Robotics from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Arbe Robotics presently has an average rating of “Hold” and a consensus target price of $2.75.

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.