Arbe Robotics (NASDAQ:ARBE) Shares Down 4.1% - Time to Sell?

Key Points

• Arbe Robotics shares fell 4.1% in midday trading, touching a low of $0.70 and ending near $0.71, with volume well below average.
• Analyst sentiment remains mixed but leans positive overall: one firm upgraded the stock, another downgraded it, and Canaccord Genuity kept a Buy rating with a $1.50 target. MarketBeat’s consensus rating is Moderate Buy with a $2.33 target.
• The company continues to post weak fundamentals, reporting a quarterly EPS loss of $0.08 versus a $0.07 estimate and revenue of $0.46 million, while an insider sale by CTO Noam Arkind reduced his holdings by about 9.64%.

Arbe Robotics Ltd. (NASDAQ:ARBE - Get Free Report)'s stock price dropped 4.1% during mid-day trading on Thursday . The company traded as low as $0.70 and last traded at $0.7104. 611,563 shares changed hands during trading, a decline of 68% from the average daily volume of 1,888,615 shares. The stock had previously closed at $0.7408.

Analysts Set New Price Targets

A number of research firms have recently commented on ARBE. Weiss Ratings raised Arbe Robotics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, May 21st. Wall Street Zen lowered Arbe Robotics from a "hold" rating to a "sell" rating in a research report on Saturday, June 27th. Finally, Canaccord Genuity Group upped their price target on shares of Arbe Robotics to $1.50 and gave the stock a "buy" rating in a research note on Friday, May 29th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $2.33.

Arbe Robotics Price Performance

The firm has a market capitalization of $87.13 million, a PE ratio of -1.97 and a beta of 1.10. The firm has a 50-day simple moving average of $0.88 and a 200-day simple moving average of $0.93.

Arbe Robotics (NASDAQ:ARBE - Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Arbe Robotics had a negative net margin of 2,817.97% and a negative return on equity of 83.44%. The business had revenue of $0.46 million for the quarter, compared to analysts' expectations of $0.48 million.

Insiders Place Their Bets

In other Arbe Robotics news, CTO Noam Arkind sold 175,862 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $1.18, for a total value of $207,517.16. Following the transaction, the chief technology officer directly owned 1,648,120 shares in the company, valued at approximately $1,944,781.60. This trade represents a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 53.53% of the company's stock.

Institutional Investors Weigh In On Arbe Robotics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC bought a new position in Arbe Robotics in the 1st quarter worth $63,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Arbe Robotics by 187.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,849,154 shares of the company's stock valued at $4,995,000 after purchasing an additional 3,162,282 shares during the period. Geode Capital Management LLC increased its position in Arbe Robotics by 77.7% in the second 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 in the last quarter. Invesco Ltd. purchased a new stake in Arbe Robotics in the second quarter worth about $41,000. Finally, Sender Co & Partners Inc. bought a new position in shares of Arbe Robotics in the second quarter worth about $154,000. 33.42% of the stock is currently owned by hedge funds and other institutional investors.

About Arbe Robotics

Arbe Robotics Ltd. is a technology company specializing in high-resolution 4D imaging radar solutions for the automotive industry. The company's radar platform is designed to enhance advanced driver-assistance systems (ADAS) and support the development of autonomous vehicles by providing detailed object detection, precise range and velocity measurements, and accurate environmental mapping under diverse driving conditions.

Founded in 2015 and headquartered in Tel Aviv, Israel, Arbe Robotics has developed its own semiconductor chipset and accompanying software stack.

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