Short Interest in Arbe Robotics Ltd. (NASDAQ:ARBE) Drops By 22.1%

Arbe Robotics Ltd. (NASDAQ:ARBE - Get Free Report) was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 6,730,000 shares, a decline of 22.1% from the March 31st total of 8,640,000 shares. Based on an average daily volume of 4,190,000 shares, the days-to-cover ratio is currently 1.6 days. Currently, 9.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On Arbe Robotics

Several institutional investors have recently bought and sold shares of the stock. Walleye Capital LLC acquired a new stake in Arbe Robotics in the 4th quarter worth approximately $25,000. Two Sigma Securities LLC acquired a new position in Arbe Robotics during the 4th quarter worth $37,000. Wolverine Trading LLC acquired a new stake in shares of Arbe Robotics in the fourth quarter valued at about $38,000. Jane Street Group LLC acquired a new position in shares of Arbe Robotics during the 4th quarter worth about $48,000. Finally, SBI Securities Co. Ltd. boosted its stake in Arbe Robotics by 732.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 50,611 shares of the company's stock valued at $52,000 after purchasing an additional 44,533 shares during the period. 33.42% of the stock is currently owned by institutional investors.

Arbe Robotics Stock Up 7.6 %

Shares of Arbe Robotics stock traded up $0.10 during midday trading on Friday, hitting $1.41. The company's stock had a trading volume of 1,375,257 shares, compared to its average volume of 2,778,342. The firm has a market capitalization of $127.03 million, a P/E ratio of -1.91 and a beta of 0.35. Arbe Robotics has a 1-year low of $0.85 and a 1-year high of $5.09. The stock has a 50-day simple moving average of $1.24 and a 200-day simple moving average of $1.87.

Arbe Robotics (NASDAQ:ARBE - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.01). Arbe Robotics had a negative return on equity of 102.87% and a negative net margin of 4,567.91%. The company had revenue of $0.10 million during the quarter, compared to analysts' expectations of $0.40 million. During the same period last year, the company earned ($0.07) earnings per share. As a group, sell-side analysts predict that Arbe Robotics will post -0.58 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on ARBE. Maxim Group cut Arbe Robotics from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Canaccord Genuity Group started coverage on Arbe Robotics in a research note on Tuesday, April 1st. They issued a "buy" rating and a $1.75 price target on the 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.