Canaccord Genuity Group Issues Positive Forecast for Arbe Robotics (NASDAQ:ARBE) Stock Price

Arbe Robotics (NASDAQ:ARBE) had its target price boosted by Canaccord Genuity Group to $1.50 in a research note issued to investors on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Separately, 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $2.33.

Arbe Robotics Trading Down 9.1%

NASDAQ:ARBE opened at $1.10 on Friday. The company has a 50-day moving average price of $0.82 and a 200-day moving average price of $1.07. Arbe Robotics has a 12 month low of $0.55 and a 12 month high of $2.88. The stock has a market cap of $134.92 million, a price-to-earnings ratio of -3.06 and a beta of 0.98.

Arbe Robotics (NASDAQ:ARBE) last posted its earnings results on Thursday, May 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Arbe Robotics had a negative return on equity of 83.30% and a negative net margin of 2,817.97%.The company had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $0.48 million.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ARBE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Arbe Robotics by 187.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,849,154 shares of the company’s stock valued at $4,995,000 after acquiring an additional 3,162,282 shares during the period. Alyeska Investment Group L.P. raised its holdings in Arbe Robotics by 36.9% in the third quarter. Alyeska Investment Group L.P. now owns 4,116,822 shares of the company’s stock worth $6,793,000 after buying an additional 1,109,047 shares during the last quarter. AlphaCentric Advisors LLC purchased a new position in Arbe Robotics in the first quarter worth about $183,000. Caitong International Asset Management Co. Ltd purchased a new position in Arbe Robotics in the fourth quarter worth about $315,000. Finally, Aristides Capital LLC purchased a new position in Arbe Robotics in the fourth quarter worth about $180,000. 33.42% of the stock is owned by hedge funds and other institutional investors.

Arbe Robotics Company Profile

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.