Arbe Robotics Ltd. (NASDAQ:ARBE - Get Free Report) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,210,000 shares, an increase of 77.8% from the December 15th total of 680,500 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily volume of 4,690,000 shares, the days-to-cover ratio is currently 0.3 days.
Analysts Set New Price Targets
Separately, Maxim Group decreased their price target on shares of Arbe Robotics from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Friday, November 29th.
Get Our Latest Stock Report on Arbe Robotics
Arbe Robotics Stock Performance
ARBE traded down $0.38 during trading on Friday, reaching $2.76. The stock had a trading volume of 12,683,189 shares, compared to its average volume of 33,570,902. The business has a 50-day moving average of $2.09 and a 200-day moving average of $2.04. Arbe Robotics has a one year low of $1.39 and a one year high of $5.09. The stock has a market cap of $222.81 million, a PE ratio of -3.73 and a beta of -0.04.
Hedge Funds Weigh In On Arbe Robotics
A hedge fund recently raised its stake in Arbe Robotics stock. Ground Swell Capital LLC boosted its position in Arbe Robotics Ltd. (NASDAQ:ARBE - Free Report) by 114.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,024 shares of the company's stock after buying an additional 20,324 shares during the quarter. Ground Swell Capital LLC's holdings in Arbe Robotics were worth $73,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 33.42% of the stock is currently owned by institutional investors and hedge funds.
Arbe Robotics Company Profile
(
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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.
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