Insider Selling: Arbe Robotics (NASDAQ:ARBE) CTO Sells 31,000 Shares

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 31,000 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $0.64, for a total transaction of $19,840.00. Following the completion of the sale, the chief technology officer directly owned 1,561,282 shares in the company, valued at $999,220.48. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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, September 2nd, Noam Arkind sold 31,700 shares of Arbe Robotics stock. The stock was sold at an average price of $0.64, for a total transaction of $20,288.00.

Arbe Robotics Stock Performance

NASDAQ ARBE traded down $0.01 on Thursday, reaching $0.62. 636,477 shares of the company’s stock traded hands, compared to its average volume of 2,835,646. The firm has a market cap of $76.63 million, a price-to-earnings ratio of -1.84 and a beta of 1.12. The stock has a 50 day moving average price of $0.72 and a 200-day moving average price of $0.81. Arbe Robotics Ltd. has a fifty-two week low of $0.55 and a fifty-two week high of $2.88.

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, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $0.70 million for 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%.

Institutional Investors Weigh In On Arbe Robotics

A number of institutional investors have recently modified their holdings of ARBE. AWM Investment Company Inc. purchased a new position in Arbe Robotics during the second quarter worth approximately $4,570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of 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 buying an additional 3,162,282 shares in the last quarter. Alyeska Investment Group L.P. increased its position in shares of 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 buying an additional 1,109,047 shares in the last quarter. AlphaCentric Advisors LLC acquired a new position in shares of Arbe Robotics during the 1st quarter worth approximately $183,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Arbe Robotics during the 4th quarter worth approximately $315,000. 33.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ARBE. Wall Street Zen cut Arbe Robotics from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Canaccord Genuity Group set a $1.25 price objective on Arbe Robotics in a research report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arbe Robotics in a research note on Tuesday, August 18th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.