Alyeska Investment Group L.P. Sells 1,760,693 Shares of Arbe Robotics Ltd. $ARBE

Key Points

• Alyeska Investment Group L.P. has reduced its stake in Arbe Robotics Ltd. by 42.9%, selling 1,760,693 shares, leaving it with approximately 2.6% ownership valued at $2.41 million.
• Analysts have given Arbe Robotics a "Moderate Buy" consensus rating, with a price target of $2.25, reflecting positive growth expectations.
• Arbe Robotics' current stock price is $1.29, having experienced a twelve month high of $5.09 and a low of $0.85.

Alyeska Investment Group L.P. trimmed its position in shares of Arbe Robotics Ltd. (NASDAQ:ARBE - Free Report) by 42.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,339,726 shares of the company's stock after selling 1,760,693 shares during the period. Alyeska Investment Group L.P. owned about 2.60% of Arbe Robotics worth $2,410,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Northern Trust Corp boosted its stake in shares of Arbe Robotics by 1,261.7% during the 4th quarter. Northern Trust Corp now owns 472,661 shares of the company's stock valued at $879,000 after purchasing an additional 437,949 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Arbe Robotics during the fourth quarter valued at approximately $48,000. Saba Capital Management L.P. boosted its position in shares of Arbe Robotics by 40.8% in the 4th quarter. Saba Capital Management L.P. now owns 1,676,725 shares of the company's stock worth $3,119,000 after purchasing an additional 485,613 shares in the last quarter. Wolverine Trading LLC purchased a new stake in shares of Arbe Robotics in the 4th quarter worth approximately $38,000. Finally, SBI Securities Co. Ltd. increased its position in Arbe Robotics by 732.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 50,611 shares of the company's stock valued at $52,000 after buying an additional 44,533 shares in the last quarter. 33.42% of the stock is currently owned by hedge funds and other institutional investors.

Arbe Robotics Trading Up 9.4%

ARBE stock traded up $0.12 during midday trading on Thursday, hitting $1.40. The company's stock had a trading volume of 1,968,606 shares, compared to its average volume of 964,257. The company has a market cap of $147.39 million, a PE ratio of -2.50 and a beta of 0.42. The firm's 50-day moving average is $1.40 and its 200-day moving average is $1.41. Arbe Robotics Ltd. has a 12 month low of $0.85 and a 12 month high of $5.09.

Analyst Ratings Changes

Separately, Roth Capital set a $2.00 target price on 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 given a Hold rating to the stock. According to data from MarketBeat, Arbe Robotics presently has a consensus rating of "Moderate Buy" and a consensus 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.