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

Key Points

• Arbe Robotics Ltd. experienced a 29.7% decrease in short interest in August, dropping from 5,860,000 shares to 4,120,000 shares.
• Roth Capital has set a $2.00 price target for Arbe Robotics, with a current consensus rating of "Moderate Buy" and a price target of $2.25.
• Approximately 33.42% of Arbe Robotics' stock is owned by institutional investors, with several firms purchasing new stakes in the second quarter.

Arbe Robotics Ltd. (NASDAQ:ARBE - Get Free Report) was the target of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totaling 4,120,000 shares, a decrease of 29.7% from the July 31st total of 5,860,000 shares. Based on an average daily volume of 1,400,000 shares, the days-to-cover ratio is currently 2.9 days. Approximately 5.5% of the company's stock are short sold. Approximately 5.5% of the company's stock are short sold. Based on an average daily volume of 1,400,000 shares, the days-to-cover ratio is currently 2.9 days.

Arbe Robotics Price Performance

NASDAQ ARBE traded up $0.12 on Thursday, hitting $1.40. 1,968,606 shares of the stock were exchanged, compared to its average volume of 964,257. The business's fifty day moving average is $1.40 and its 200 day moving average is $1.41. Arbe Robotics has a 52 week low of $0.85 and a 52 week high of $5.09. The company has a market capitalization of $147.39 million, a PE ratio of -2.50 and a beta of 0.42.

Hedge Funds Weigh In On Arbe Robotics

Large investors have recently modified their holdings of the stock. Sender Co & Partners Inc. acquired a new stake in shares of Arbe Robotics during the 2nd quarter worth about $154,000. Invesco Ltd. acquired a new stake in shares of Arbe Robotics during the 2nd quarter worth about $41,000. Quadrature Capital Ltd acquired a new stake in shares of Arbe Robotics during the 2nd quarter worth about $29,000. Geode Capital Management LLC lifted its stake in shares of Arbe Robotics by 77.7% during the 2nd quarter. Geode Capital Management LLC now owns 94,209 shares of the company's stock worth $168,000 after buying an additional 41,184 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its stake in shares of Arbe Robotics by 30.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 66,240 shares of the company's stock worth $118,000 after buying an additional 15,629 shares during the last quarter. 33.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Roth Capital set a $2.00 target price on shares of Arbe Robotics and gave the stock a "buy" rating in a report on Friday, August 8th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $2.25.

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.