Arbe Robotics (NASDAQ:ARBE) CTO Sells $14,301.00 in Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 22,700 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $0.63, for a total transaction of $14,301.00. Following the sale, the chief technology officer directly owned 1,502,782 shares of the company’s stock, valued at approximately $946,752.66. This represents a 1.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 Tuesday, September 8th, Noam Arkind sold 278,800 shares of Arbe Robotics stock. The stock was sold at an average price of $0.78, for a total value of $217,464.00.
• 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 Price Performance

Shares of ARBE opened at $0.78 on Monday. Arbe Robotics Ltd. has a 52-week low of $0.55 and a 52-week high of $2.88. The company has a market capitalization of $96.11 million, a PE ratio of -2.30 and a beta of 1.12. The stock has a fifty day simple moving average of $0.72 and a two-hundred day simple moving average of $0.79.

Arbe Robotics (NASDAQ:ARBE) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.06) earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $0.54 million.

Institutional Trading of Arbe Robotics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARBE. AWM Investment Company Inc. purchased a new position in shares of Arbe Robotics during the second quarter worth $4,570,000. AlphaCentric Advisors LLC acquired a new stake in shares of Arbe Robotics in the first quarter valued at $183,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Arbe Robotics in the 4th quarter valued at $315,000. Aristides Capital LLC acquired a new position in Arbe Robotics during the 4th quarter worth about $180,000. Finally, Two Sigma Investments LP lifted its stake in Arbe Robotics by 25.2% during the 3rd quarter. Two Sigma Investments LP now owns 109,283 shares of the company’s stock worth $180,000 after acquiring an additional 21,990 shares in the last quarter. Hedge funds and other institutional investors own 33.42% of the company’s stock.

Analyst Ratings Changes

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

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.