Short Interest in Arbe Robotics Ltd. (NASDAQ:ARBE) Declines By 11.5%

Arbe Robotics Ltd. (NASDAQ:ARBE) was the recipient of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 3,010,000 shares, a decrease of 11.5% from the January 15th total of 3,400,000 shares. Currently, 4.8% of the company’s stock are sold short. Based on an average daily volume of 8,040,000 shares, the short-interest ratio is presently 0.4 days.

Analysts Set New Price Targets

Separately, Maxim Group cut their price objective on Arbe Robotics from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Friday, November 29th.

Arbe Robotics Stock Performance

Shares of NASDAQ ARBE traded down $0.18 during trading hours on Friday, reaching $2.70. 6,543,637 shares of the stock were exchanged, compared to its average volume of 10,263,533. The stock’s fifty day simple moving average is $2.48 and its 200 day simple moving average is $2.11. Arbe Robotics has a 52 week low of $1.39 and a 52 week high of $5.09. The firm has a market capitalization of $243.24 million, a price-to-earnings ratio of -3.65 and a beta of 0.02.

Arbe Robotics (NASDAQ:ARBE) last issued its quarterly earnings results on Wednesday, November 27th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Arbe Robotics had a negative net margin of 4,567.91% and a negative return on equity of 102.87%. During the same period in the prior year, the business posted ($0.12) earnings per share. Research analysts predict that Arbe Robotics will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Arbe Robotics

Several hedge funds have recently modified their holdings of the company. Jane Street Group LLC acquired a new stake in shares of Arbe Robotics during the 4th quarter valued at $48,000. Northern Trust Corp lifted its holdings in Arbe Robotics by 1,261.7% during the 4th 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 period. Two Sigma Securities LLC acquired a new position in Arbe Robotics during the 4th quarter worth about $37,000. Walleye Capital LLC acquired a new position in Arbe Robotics during the 4th quarter worth about $25,000. Finally, Geode Capital Management LLC raised its position in shares of Arbe Robotics by 22.3% in the 4th quarter. Geode Capital Management LLC now owns 53,025 shares of the company’s stock worth $99,000 after acquiring an additional 9,658 shares in the last quarter. Institutional investors and hedge funds own 33.42% of the company’s stock.

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.