Traders Buy Large Volume of Call Options on Arbe Robotics (NASDAQ:ARBE)

Arbe Robotics Ltd. (NASDAQ:ARBE) was the recipient of some unusual options trading activity on Thursday. Stock investors acquired 52,243 call options on the company. This is an increase of 1,234% compared to the typical daily volume of 3,916 call options.

Hedge Funds Weigh In On Arbe Robotics

Hedge funds have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC purchased a new position in shares of Arbe Robotics during the second quarter worth $27,000. Quadrature Capital Ltd acquired a new position in Arbe Robotics in the 2nd quarter valued at about $29,000. Resurgent Financial Advisors LLC purchased a new stake in Arbe Robotics during the third quarter worth about $30,000. Invesco Ltd. purchased a new stake in Arbe Robotics during the second quarter worth about $41,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Arbe Robotics during the first quarter worth about $63,000. Hedge funds and other institutional investors own 33.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $1.75 price target on shares of Arbe Robotics in a research report on Tuesday, November 18th. Westpark Capital initiated coverage on shares of Arbe Robotics in a report on Thursday, January 8th. They set a “buy” rating and a $3.50 target price for the company. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Arbe Robotics in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $2.42.

Arbe Robotics Stock Down 7.1%

NASDAQ:ARBE opened at $1.70 on Friday. Arbe Robotics has a 52 week low of $0.85 and a 52 week high of $3.37. The stock’s fifty day moving average is $1.29 and its two-hundred day moving average is $1.51. The company has a market capitalization of $178.98 million, a P/E ratio of -3.62 and a beta of 0.53.

About Arbe Robotics

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.