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. lessened its holdings in Arbe Robotics Ltd. (NASDAQ:ARBE - Free Report) by 42.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northern Trust Corp grew its holdings in shares of Arbe Robotics by 1,261.7% during the fourth quarter. Northern Trust Corp now owns 472,661 shares of the company's stock worth $879,000 after purchasing an additional 437,949 shares during the last quarter. Telemark Asset Management LLC bought a new stake in shares of Arbe Robotics during the first quarter worth about $1,390,000. Ghisallo Capital Management LLC bought a new stake in shares of Arbe Robotics during the first quarter worth about $258,000. Saba Capital Management L.P. grew its holdings in shares of Arbe Robotics by 40.8% during the fourth 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 during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Arbe Robotics during the fourth quarter worth about $48,000. 33.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Arbe Robotics Price Performance

Shares of Arbe Robotics stock remained flat at $1.30 on Tuesday. The company's stock 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 P/E ratio of -2.32 and a beta of 0.42. Arbe Robotics Ltd. has a 52-week low of $0.85 and a 52-week high of $5.09. The business has a 50 day moving average price of $1.42 and a 200-day moving average price of $1.42.

Arbe Robotics 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.