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

Arbe Robotics Ltd. (NASDAQ:ARBE - Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 8,640,000 shares, an increase of 24.5% from the March 15th total of 6,940,000 shares. Based on an average daily trading volume, of 9,850,000 shares, the days-to-cover ratio is currently 0.9 days. Currently, 11.9% of the company's stock are sold short.

Hedge Funds Weigh In On Arbe Robotics

Hedge funds and other institutional investors have recently made changes to their positions in the business. DnB Asset Management AS raised its stake in Arbe Robotics by 26.9% during the 4th quarter. DnB Asset Management AS now owns 129,742 shares of the company's stock valued at $241,000 after acquiring an additional 27,531 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Arbe Robotics by 22.3% during the fourth quarter. Geode Capital Management LLC now owns 53,025 shares of the company's stock valued at $99,000 after purchasing an additional 9,658 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of Arbe Robotics during the fourth quarter valued at about $25,000. Two Sigma Securities LLC acquired a new stake in Arbe Robotics in the fourth quarter worth about $37,000. Finally, Northern Trust Corp grew its position in Arbe Robotics by 1,261.7% in the 4th quarter. Northern Trust Corp now owns 472,661 shares of the company's stock valued at $879,000 after buying an additional 437,949 shares in the last quarter. 33.42% of the stock is currently owned by institutional investors and hedge funds.

Arbe Robotics Stock Down 0.4 %

ARBE stock traded down $0.01 during midday trading on Friday, reaching $1.38. The company had a trading volume of 1,377,842 shares, compared to its average volume of 2,739,347. The firm has a market capitalization of $123.88 million, a PE ratio of -1.86 and a beta of 0.35. The stock has a 50 day moving average price of $1.35 and a 200 day moving average price of $1.90. Arbe Robotics has a fifty-two week low of $0.85 and a fifty-two week high of $5.09.

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

Analysts Set New Price Targets

ARBE has been the subject of several research reports. Canaccord Genuity Group started coverage on Arbe Robotics in a research report on Tuesday, April 1st. They issued a "buy" rating and a $1.75 target price for the company. Maxim Group lowered shares of Arbe Robotics from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th.

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.