Arbe Robotics Ltd. (NASDAQ:ARBE) Short Interest Update

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ARBE. Canaccord Genuity Group started coverage on shares of Arbe Robotics in a research note on Tuesday, April 1st. They issued a "buy" rating and a $1.75 price objective on the stock. Maxim Group cut Arbe Robotics from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th.

Hedge Funds Weigh In On Arbe Robotics

Institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. lifted its position in shares of 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 acquiring an additional 44,533 shares during the period. Wolverine Trading LLC acquired a new position in shares of Arbe Robotics during the fourth quarter valued at about $38,000. Saba Capital Management L.P. boosted its position in shares of Arbe Robotics by 40.8% during the 4th quarter. Saba Capital Management L.P. now owns 1,676,725 shares of the company's stock worth $3,119,000 after purchasing an additional 485,613 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Arbe Robotics in the 4th quarter valued at about $7,627,000. Finally, Jane Street Group LLC bought a new stake in Arbe Robotics in the 4th quarter valued at about $48,000. 33.42% of the stock is owned by institutional investors and hedge funds.

Arbe Robotics Stock Performance

Shares of NASDAQ:ARBE traded down $0.09 during trading on Tuesday, reaching $1.32. The stock had a trading volume of 1,127,796 shares, compared to its average volume of 2,786,703. Arbe Robotics has a 52 week low of $0.85 and a 52 week high of $5.09. The firm's fifty day moving average is $1.22 and its 200 day moving average is $1.86. The stock has a market cap of $118.92 million, a price-to-earnings ratio of -1.78 and a beta of 0.30.

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

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.