Key Points
- CTO Noam Arkind sold 278,800 Arbe Robotics shares at an average price of $0.78, totaling $217,464. The Rule 10b5-1 transaction reduced his direct ownership by 18.55% to 1,223,982 shares.
- Arkind also sold more than 120,000 shares in several transactions earlier in September, continuing a series of insider sales.
- Arbe Robotics shares opened at $0.78, with a market capitalization of about $96.1 million. Analysts’ consensus rating is Hold, with a $2.75 price target, while the company continues to report losses despite quarterly revenue and earnings exceeding estimates.
Arbe Robotics Ltd. (NASDAQ:ARBE - Get Free Report) CTO Noam Arkind sold 22,700 shares of the firm's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $0.63, for a total transaction of $14,301.00. Following the completion of the transaction, the chief technology officer owned 1,502,782 shares of the company's stock, valued at approximately $946,752.66. The trade was a 1.49% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Tuesday, September 8th, Noam Arkind sold 278,800 shares of Arbe Robotics stock. The shares were sold at an average price of $0.78, for a total transaction of $217,464.00.
- On Thursday, September 3rd, Noam Arkind sold 35,800 shares of Arbe Robotics stock. The shares were sold at an average price of $0.63, for a total transaction of $22,554.00.
- On Thursday, September 3rd, Noam Arkind sold 31,000 shares of Arbe Robotics stock. The shares were sold at an average price of $0.64, for a total transaction of $19,840.00.
- 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 opened at $0.78 on Friday. The firm's 50 day moving average price is $0.72 and its two-hundred day moving average price is $0.80. Arbe Robotics Ltd. has a twelve month low of $0.55 and a twelve month high of $2.88. The stock has a market cap of $96.11 million, a price-to-earnings ratio of -2.30 and a beta of 1.12.
Arbe Robotics (NASDAQ:ARBE - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.02. The company had revenue of $0.70 million during the quarter, compared to analyst estimates of $0.54 million. Arbe Robotics had a negative return on equity of 90.93% and a negative net margin of 2,116.84%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on ARBE shares. Canaccord Genuity Group set a $2.00 price objective on Arbe Robotics in a research report on Friday. Wall Street Zen downgraded Arbe Robotics from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Arbe Robotics in a research report on Tuesday, August 18th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $2.75.
Read Our Latest Stock Report on Arbe Robotics
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Resurgent Financial Advisors LLC bought a new stake in shares of Arbe Robotics in the third quarter valued at approximately $30,000. Invesco Ltd. bought a new position in Arbe Robotics during the second quarter worth about $41,000. Goldman Sachs Group Inc. acquired a new stake in Arbe Robotics in the 4th quarter valued at $46,000. Cubist Systematic Strategies LLC acquired a new position in Arbe Robotics in the first quarter valued at about $63,000. Finally, HRT Financial LP acquired a new position in shares of Arbe Robotics in the 4th quarter worth approximately $118,000. 33.42% of the stock is owned by institutional investors.
Arbe Robotics Company Profile
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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.
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