Arbe Robotics Ltd. (NASDAQ:ARBE) Sees Large Decrease in Short Interest

Arbe Robotics Ltd. (NASDAQ:ARBE) saw a significant decrease in short interest in August. As of August 15th, there was short interest totaling 4,120,000 shares, adecreaseof29.7% from the July 31st total of 5,860,000 shares. Currently,5.5% of the shares of the company are sold short. Based on an average trading volume of 1,400,000 shares, the short-interest ratio is currently 2.9 days. Based on an average trading volume of 1,400,000 shares, the short-interest ratio is currently 2.9 days. Currently,5.5% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Roth Capital set a $2.00 price target on Arbe Robotics and gave the stock a “buy” rating in a report on Friday, August 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Arbe Robotics has an average rating of “Moderate Buy” and an average price target of $2.25.

Hedge Funds Weigh In On Arbe Robotics

Institutional investors have recently bought and sold shares of the company. Northern Trust Corp increased its position in Arbe Robotics by 1,261.7% in the fourth quarter. Northern Trust Corp now owns 472,661 shares of the company’s stock worth $879,000 after buying an additional 437,949 shares during the last quarter. Telemark Asset Management LLC purchased a new position in shares of Arbe Robotics during the 1st quarter valued at $1,390,000. Ghisallo Capital Management LLC bought a new position in shares of Arbe Robotics during the 1st quarter worth $258,000. Saba Capital Management L.P. increased its holdings in Arbe Robotics by 40.8% in the 4th quarter. Saba Capital Management L.P. now owns 1,676,725 shares of the company’s stock worth $3,119,000 after acquiring an additional 485,613 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Arbe Robotics in the 4th quarter valued at about $48,000. Hedge funds and other institutional investors own 33.42% of the company’s stock.

Arbe Robotics Stock Up 3.2%

ARBE opened at $1.29 on Monday. Arbe Robotics has a twelve month low of $0.85 and a twelve month high of $5.09. The company’s 50-day moving average price is $1.44 and its two-hundred day moving average price is $1.42. The stock has a market cap of $135.81 million, a price-to-earnings ratio of -2.30 and a beta of 0.42.

About Arbe Robotics

Arbe Robotics Ltd., a semiconductor company, provides 4D imaging radar solutions for tier 1 automotive suppliers and automotive manufacturers in China, Hong Kong, Sweden, Germany, the United States, Israel, and internationally. It offers 4D imaging radar chipset solutions that address the core issues that have caused autonomous vehicle and autopilot accidents, such as detecting stationary objects, identifying vulnerable road users, operation at poor lighting conditions, and eliminating false alarms without radar ambiguities.