Arbe Robotics Ltd. (NASDAQ:ARBE) Short Interest Down 29.7% in August

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 decline in short interest in August. As of August 15th, there was short interest totaling 4,120,000 shares, a decline of 29.7% from the July 31st total of 5,860,000 shares. Based on an average daily trading volume, of 1,400,000 shares, the days-to-cover ratio is currently 2.9 days. Currently, 5.5% of the company's shares are sold short. Currently, 5.5% of the company's shares are sold short. Based on an average daily trading volume, of 1,400,000 shares, the days-to-cover ratio is currently 2.9 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ARBE. Ashton Thomas Private Wealth LLC purchased a new position in Arbe Robotics in the second quarter valued at $27,000. Quadrature Capital Ltd purchased a new position in Arbe Robotics in the second quarter valued at $29,000. Thoroughbred Financial Services LLC purchased a new position in Arbe Robotics in the first quarter valued at $36,000. Wolverine Trading LLC purchased a new position in Arbe Robotics in the fourth quarter valued at $38,000. Finally, Invesco Ltd. purchased a new position in Arbe Robotics in the second quarter valued at $41,000. 33.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Arbe Robotics Price Performance

NASDAQ:ARBE remained flat at $1.30 during midday trading on Tuesday. The company had a trading volume of 659,755 shares, compared to its average volume of 4,654,051. The firm has a market cap of $136.86 million, a price-to-earnings ratio of -2.32 and a beta of 0.42. The business's 50-day simple moving average is $1.43 and its two-hundred day simple moving average is $1.42. Arbe Robotics has a 52-week low of $0.85 and a 52-week high of $5.09.

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.