Key Points
- Arbe Robotics CTO Noam Arkind sold 31,000 shares at an average price of $0.64, totaling $19,840, under a pre-arranged Rule 10b5-1 trading plan. He retained 1,561,282 shares after the sale and had also sold 31,700 shares the previous day.
- Arbe Robotics shares opened at $0.62, near their one-year low of $0.55 and well below the 50-day and 200-day moving averages of $0.72 and $0.81, respectively. The company reported a quarterly loss of $0.06 per share but exceeded revenue and EPS expectations.
- Analyst sentiment is mixed, with an average “Hold” rating and a $2.38 price target; institutional investors own 33.42% of the company.
Arbe Robotics Ltd. (NASDAQ:ARBE - Get Free Report) CTO Noam Arkind sold 31,000 shares of Arbe Robotics stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $0.64, for a total value of $19,840.00. Following the completion of the transaction, the chief technology officer owned 1,561,282 shares of the company's stock, valued at approximately $999,220.48. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 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 value of $20,288.00.
Arbe Robotics Price Performance
Shares of NASDAQ ARBE opened at $0.62 on Friday. The company has a market cap of $76.63 million, a price-to-earnings ratio of -1.84 and a beta of 1.12. The stock's 50-day moving average is $0.72 and its two-hundred day moving average is $0.81. Arbe Robotics Ltd. has a 1-year low of $0.55 and a 1-year high of $2.88.
Arbe Robotics (NASDAQ:ARBE - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. Arbe Robotics had a negative return on equity of 90.93% and a negative net margin of 2,116.84%.The business had revenue of $0.70 million during the quarter, compared to analysts' expectations of $0.54 million.
Institutional Investors Weigh In On Arbe Robotics
Several hedge funds and other institutional investors have recently made changes to their positions in the business. AWM Investment Company Inc. acquired a new stake in Arbe Robotics during the second quarter worth approximately $4,570,000. HRT Financial LP acquired a new position in shares of Arbe Robotics in the 4th quarter valued at $118,000. Resurgent Financial Advisors LLC grew its position in shares of Arbe Robotics by 51.4% in the 4th quarter. Resurgent Financial Advisors LLC now owns 27,100 shares of the company's stock valued at $32,000 after buying an additional 9,200 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of Arbe Robotics in the 4th quarter valued at $46,000. Finally, Sender Co & Partners Inc. acquired a new stake in Arbe Robotics during the 2nd quarter worth $154,000. Institutional investors and hedge funds own 33.42% of the company's stock.
Analysts Set New Price Targets
Several research analysts have commented on the stock. Canaccord Genuity Group set a $1.25 price target on shares of Arbe Robotics in a report on Friday, August 7th. Weiss Ratings restated 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 investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, Arbe Robotics has an average rating of "Hold" and an average price target of $2.38.
Get Our Latest Stock Analysis on ARBE
Arbe Robotics Company Profile
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
