Arbe Robotics Ltd. (NASDAQ:ARBE) Short Interest Update

Arbe Robotics Ltd. (NASDAQ:ARBE) saw a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 6,730,000 shares, a decline of 22.1% from the March 31st total of 8,640,000 shares. Currently, 9.2% of the company’s shares are sold short. Based on an average daily trading volume, of 4,190,000 shares, the days-to-cover ratio is currently 1.6 days.

Institutional Trading of Arbe Robotics

A number of hedge funds have recently made changes to their positions in the stock. DnB Asset Management AS grew its holdings in Arbe Robotics by 26.9% during the 4th quarter. DnB Asset Management AS now owns 129,742 shares of the company’s stock worth $241,000 after acquiring an additional 27,531 shares in the last quarter. Jane Street Group LLC acquired a new position in Arbe Robotics in the fourth quarter worth about $48,000. Wolverine Trading LLC bought a new stake in Arbe Robotics in the fourth quarter valued at about $38,000. Northern Trust Corp raised its stake in Arbe Robotics by 1,261.7% during the fourth quarter. Northern Trust Corp now owns 472,661 shares of the company’s stock valued at $879,000 after buying an additional 437,949 shares in the last quarter. Finally, Saba Capital Management L.P. lifted its holdings in Arbe Robotics by 40.8% during the 4th quarter. Saba Capital Management L.P. now owns 1,676,725 shares of the company’s stock worth $3,119,000 after buying an additional 485,613 shares during the last quarter. Institutional investors and hedge funds own 33.42% of the company’s stock.

Arbe Robotics Stock Down 1.5 %

Shares of NASDAQ:ARBE opened at $1.31 on Friday. The company has a market capitalization of $118.02 million, a price-to-earnings ratio of -1.77 and a beta of 0.35. The company has a 50 day moving average of $1.25 and a two-hundred day moving average of $1.87. Arbe Robotics has a 52-week low of $0.85 and a 52-week high of $5.09.

Arbe Robotics (NASDAQ:ARBE) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Arbe Robotics had a negative net margin of 4,567.91% and a negative return on equity of 102.87%. The firm had revenue of $0.10 million during the quarter, compared to analysts’ expectations of $0.40 million. During the same period in the previous year, the company earned ($0.07) earnings per share. On average, equities analysts anticipate that Arbe Robotics will post -0.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ARBE shares. Canaccord Genuity Group began coverage on shares of Arbe Robotics in a research note on Tuesday, April 1st. They issued a “buy” rating and a $1.75 target price on the stock. Maxim Group cut Arbe Robotics from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th.

About Arbe Robotics

Arbe Robotics Ltd., a semiconductor company, provides 4D imaging radar solutions for tier 1 automotive suppliers and automotive manufacturers in China, Hong Kong, Sweden, Germany, the United States, Israel, and internationally. It offers 4D imaging radar chipset solutions that address the core issues that have caused autonomous vehicle and autopilot accidents, such as detecting stationary objects, identifying vulnerable road users, operation at poor lighting conditions, and eliminating false alarms without radar ambiguities.