Arbe Robotics (NASDAQ:ARBE) Stock Rating Upgraded by Wall Street Zen

Arbe Robotics (NASDAQ:ARBE) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

ARBE has been the subject of several other reports. Canaccord Genuity Group boosted their target price on shares of Arbe Robotics to $1.50 and gave the stock a “buy” rating in a research report on Friday, May 29th. Weiss Ratings raised shares of Arbe Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 21st. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2.33.

Arbe Robotics Stock Down 4.4%

Shares of NASDAQ ARBE opened at $0.88 on Friday. The firm has a market cap of $107.65 million, a PE ratio of -2.44 and a beta of 1.06. Arbe Robotics has a 12-month low of $0.55 and a 12-month high of $2.88. The company’s fifty day simple moving average is $0.89 and its 200 day simple moving average is $1.04.

Arbe Robotics (NASDAQ:ARBE) last released its quarterly earnings data on Thursday, May 28th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The business had revenue of $0.46 million for the quarter, compared to analyst estimates of $0.48 million. Arbe Robotics had a negative return on equity of 83.44% and a negative net margin of 2,817.97%.

Insider Activity at Arbe Robotics

In related news, CTO Noam Arkind sold 24,138 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $1.09, for a total transaction of $26,310.42. Following the completion of the sale, the chief technology officer owned 1,623,982 shares in the company, valued at approximately $1,770,140.38. This trade represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 53.53% of the stock is currently owned by corporate insiders.

Institutional Trading of Arbe Robotics

Large investors have recently added to or reduced their stakes in the stock. Resurgent Financial Advisors LLC purchased a new stake in Arbe Robotics during the third quarter worth about $30,000. Ashton Thomas Private Wealth LLC increased its holdings in Arbe Robotics by 200.0% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 30,000 shares of the company’s stock worth $35,000 after buying an additional 20,000 shares during the last quarter. Invesco Ltd. purchased a new stake in Arbe Robotics during the second quarter worth about $41,000. Goldman Sachs Group Inc. purchased a new stake in Arbe Robotics during the fourth quarter worth about $46,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Arbe Robotics during the first quarter worth about $63,000. Hedge funds and other institutional investors own 33.42% of the company’s stock.

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.