Arbe Robotics (NASDAQ:ARBE) Lowered to “Sell” Rating by Wall Street Zen

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

Several other equities analysts also recently commented on the stock. Canaccord Genuity Group increased 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 upgraded Arbe Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2.33.

Arbe Robotics Stock Up 3.2%

ARBE stock opened at $0.67 on Friday. The company has a market capitalization of $82.30 million, a price-to-earnings ratio of -1.86 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 firm has a 50 day moving average of $0.91 and a two-hundred day moving average of $0.99.

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

Insider Buying and Selling at Arbe Robotics

In other news, CTO Noam Arkind sold 24,138 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $1.09, for a total value of $26,310.42. Following the completion of the sale, the chief technology officer directly owned 1,623,982 shares in the company, valued at approximately $1,770,140.38. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 53.53% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Resurgent Financial Advisors LLC acquired a new position in shares of Arbe Robotics during the 3rd quarter worth about $30,000. Invesco Ltd. acquired a new stake in Arbe Robotics in the 2nd quarter valued at approximately $41,000. Ashton Thomas Private Wealth LLC grew its holdings in Arbe Robotics by 200.0% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 30,000 shares of the company’s stock valued at $35,000 after buying an additional 20,000 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in Arbe Robotics in the 4th quarter worth approximately $46,000. Finally, Cubist Systematic Strategies LLC bought a new position in Arbe Robotics in the 1st quarter worth approximately $63,000. Institutional investors and hedge funds 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.