Key Points
- CTO Noam Arkind sold shares of Arbe Robotics in two transactions, including 175,862 shares on June 2 for about $207,517 and another 24,138 shares on June 3 for about $26,310. The June 2 sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Arbe Robotics shares were under pressure, with the stock opening at $0.91 and falling 15% on the day referenced. The company’s shares have traded between $0.55 and $2.88 over the past year.
- Recent earnings were weaker than expected, as Arbe reported a loss of $0.08 per share versus estimates for a $0.07 loss and revenue of $0.46 million versus $0.48 million expected. Analysts currently have a Moderate Buy consensus with a $2.33 price target.
Arbe Robotics Ltd. (NASDAQ:ARBE - Get Free Report) CTO Noam Arkind sold 24,138 shares of the company's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $1.09, for a total value of $26,310.42. Following the completion of the transaction, the chief technology officer directly owned 1,623,982 shares in the company, valued at $1,770,140.38. This represents a 1.46% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 Tuesday, June 2nd, Noam Arkind sold 175,862 shares of Arbe Robotics stock. The shares were sold at an average price of $1.18, for a total value of $207,517.16.
Arbe Robotics Stock Performance
NASDAQ ARBE opened at $0.91 on Friday. The stock 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 1 year low of $0.55 and a 1 year high of $2.88. The business's fifty day moving average is $0.86 and its two-hundred day moving average is $1.05.
Arbe Robotics (NASDAQ:ARBE - Get Free Report) last posted 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 company had revenue of $0.46 million during 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 Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARBE. Cubist Systematic Strategies LLC purchased a new position in Arbe Robotics during the first quarter valued at approximately $63,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake 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 worth $4,995,000 after acquiring an additional 3,162,282 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Arbe Robotics by 77.7% in the second quarter. Geode Capital Management LLC now owns 94,209 shares of the company's stock worth $168,000 after acquiring an additional 41,184 shares during the last quarter. Invesco Ltd. acquired a new position in shares of Arbe Robotics in the second quarter worth $41,000. Finally, Sender Co & Partners Inc. acquired a new position in shares of Arbe Robotics in the second quarter worth $154,000. 33.42% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
ARBE has been the topic of several recent analyst reports. Canaccord Genuity Group boosted their target price on shares of Arbe Robotics to $1.50 and gave the company a "buy" rating in a research note on Friday, May 29th. 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. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Arbe Robotics currently has a consensus rating of "Moderate Buy" and an average price target of $2.33.
Get Our Latest Report on Arbe Robotics
Arbe Robotics Company Profile
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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.
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