Canaccord Genuity Group Reaffirms Buy Rating for Arbe Robotics (NASDAQ:ARBE)

Arbe Robotics (NASDAQ:ARBE)‘s stock had its “buy” rating reissued by analysts at Canaccord Genuity Group in a note issued to investors on Tuesday,Benzinga reports. They presently have a $1.75 price objective on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 39.44% from the stock’s previous close.

Several other brokerages also recently weighed in on ARBE. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Arbe Robotics in a report on Wednesday, October 8th. Roth Capital set a $2.00 price target on shares of Arbe Robotics and gave the company a “buy” rating in a report on Friday, August 8th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $2.25.

Arbe Robotics Stock Down 3.5%

NASDAQ:ARBE traded down $0.05 during mid-day trading on Tuesday, reaching $1.26. 395,100 shares of the stock were exchanged, compared to its average volume of 4,613,869. The stock has a market capitalization of $132.13 million, a P/E ratio of -2.22 and a beta of 0.49. The company has a 50 day simple moving average of $1.84 and a 200-day simple moving average of $1.62. Arbe Robotics has a 1 year low of $0.85 and a 1 year high of $5.09.

Institutional Trading of Arbe Robotics

Several large investors have recently modified their holdings of ARBE. Telemark Asset Management LLC acquired a new position in shares of Arbe Robotics in the first quarter worth about $1,390,000. Ghisallo Capital Management LLC acquired a new position in shares of Arbe Robotics in the 1st quarter valued at approximately $258,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Arbe Robotics during the 2nd quarter valued at approximately $105,000. Thoroughbred Financial Services LLC bought a new stake in shares of Arbe Robotics in the first quarter worth $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Arbe Robotics in the second quarter valued at $27,000. 33.42% of the stock is currently owned by institutional investors and hedge funds.

Arbe Robotics Company Profile

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.