Arbe Robotics Ltd. (NASDAQ:ARBE) Receives Average Recommendation of “Hold” from Brokerages

Shares of Arbe Robotics Ltd. (NASDAQ:ARBE) have been given an average recommendation of “Hold” by the five brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $2.4167.

ARBE has been the subject of a number of recent research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $1.75 price objective on shares of Arbe Robotics in a research note on Tuesday, November 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Arbe Robotics in a report on Wednesday, October 8th. Finally, Westpark Capital initiated coverage on Arbe Robotics in a research note on Thursday, January 8th. They issued a “buy” rating and a $3.50 price target on the stock.

Arbe Robotics Stock Down 5.4%

Shares of NASDAQ ARBE opened at $1.23 on Monday. The company has a market capitalization of $134.30 million, a PE ratio of -2.62 and a beta of 0.53. The stock’s 50 day moving average price is $1.30 and its 200-day moving average price is $1.51. Arbe Robotics has a twelve month low of $0.85 and a twelve month high of $3.20.

Institutional Trading of Arbe Robotics

Several hedge funds have recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC boosted its stake in shares of Arbe Robotics by 200.0% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 30,000 shares of the company’s stock valued at $35,000 after purchasing an additional 20,000 shares during the period. Sender Co & Partners Inc. boosted its holdings in Arbe Robotics by 19.6% in the third quarter. Sender Co & Partners Inc. now owns 103,620 shares of the company’s stock valued at $171,000 after purchasing an additional 16,991 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of Arbe Robotics by 36.9% during the 3rd quarter. Alyeska Investment Group L.P. now owns 4,116,822 shares of the company’s stock valued at $6,793,000 after purchasing an additional 1,109,047 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Arbe Robotics by 25.2% during the 3rd quarter. Two Sigma Investments LP now owns 109,283 shares of the company’s stock worth $180,000 after buying an additional 21,990 shares during the period. Finally, Resurgent Financial Advisors LLC acquired a new stake in shares of Arbe Robotics in the third quarter worth approximately $30,000. 33.42% of the stock is currently owned by hedge funds and other institutional investors.

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.