Insider Selling: Arbe Robotics (NASDAQ:ARBE) CTO Sells 24,138 Shares of Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 24,138 shares of Arbe Robotics 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 transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Noam Arkind also recently made the following trade(s):

• On Tuesday, June 2nd, Noam Arkind sold 175,862 shares of Arbe Robotics stock. The shares were sold at an average price of $1.18, for a total value of $207,517.16.

Arbe Robotics Stock Performance

Shares of ARBE stock traded down $0.16 during mid-day trading on Friday, hitting $0.91. 4,805,857 shares of the stock traded hands, compared to its average volume of 4,637,679. Arbe Robotics Ltd. has a twelve month low of $0.55 and a twelve month high of $2.88. The firm has a market cap of $111.61 million, a price-to-earnings ratio of -2.53 and a beta of 1.06. The company’s 50-day simple moving average is $0.86 and its 200-day simple moving average is $1.05.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ARBE. Canaccord Genuity Group lifted their target price on Arbe Robotics to $1.50 and gave the stock a “buy” rating in a report on Friday, May 29th. Weiss Ratings upgraded Arbe Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 21st. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2.33.

Hedge Funds Weigh In On Arbe Robotics

Hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC grew its holdings in shares of Arbe Robotics by 611.8% in the 4th quarter. Squarepoint Ops LLC now owns 137,313 shares of the company’s stock worth $162,000 after acquiring an additional 118,021 shares during the last quarter. Sender Co & Partners Inc. acquired a new position in shares of Arbe Robotics in the 2nd quarter worth $154,000. HRT Financial LP acquired a new stake in shares of Arbe Robotics in the fourth quarter worth $118,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Arbe Robotics in the first quarter worth $63,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Arbe Robotics in the fourth quarter worth $46,000. 33.42% of the stock is currently owned by institutional investors and hedge funds.

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.