Northern Trust Corp Grows Stake in Arbe Robotics Ltd. (NASDAQ:ARBE)

Northern Trust Corp raised its stake in shares of Arbe Robotics Ltd. (NASDAQ:ARBE - Free Report) by 1,261.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 472,661 shares of the company's stock after buying an additional 437,949 shares during the quarter. Northern Trust Corp owned about 0.52% of Arbe Robotics worth $879,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ARBE. Two Sigma Securities LLC acquired a new stake in shares of Arbe Robotics during the fourth quarter worth $37,000. Walleye Capital LLC acquired a new stake in shares of Arbe Robotics during the fourth quarter worth $25,000. Geode Capital Management LLC boosted its holdings in shares of Arbe Robotics by 22.3% during the fourth quarter. Geode Capital Management LLC now owns 53,025 shares of the company's stock worth $99,000 after purchasing an additional 9,658 shares during the last quarter. Finally, DnB Asset Management AS boosted its holdings in shares of Arbe Robotics by 26.9% during the fourth quarter. DnB Asset Management AS now owns 129,742 shares of the company's stock worth $241,000 after purchasing an additional 27,531 shares during the last quarter. Institutional investors and hedge funds own 33.42% of the company's stock.

Arbe Robotics Stock Performance

Shares of ARBE traded up $0.03 during trading hours on Tuesday, hitting $1.72. The stock had a trading volume of 1,051,622 shares, compared to its average volume of 2,923,454. The firm has a market cap of $154.96 million, a P/E ratio of -2.32 and a beta of 0.30. The company's fifty day simple moving average is $1.32 and its 200 day simple moving average is $1.83. Arbe Robotics Ltd. has a 12-month low of $0.85 and a 12-month high of $5.09.

Arbe Robotics (NASDAQ:ARBE - Get Free Report) last issued its earnings results on Wednesday, March 5th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $0.10 million during the quarter, compared to analysts' expectations of $0.40 million. Arbe Robotics had a negative return on equity of 102.87% and a negative net margin of 4,567.91%. During the same period last year, the business posted ($0.07) earnings per share. As a group, sell-side analysts predict that Arbe Robotics Ltd. will post -0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on ARBE. Maxim Group cut Arbe Robotics from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Canaccord Genuity Group began coverage on Arbe Robotics in a research report on Tuesday, April 1st. They issued a "buy" rating and a $1.75 target price on the stock.

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.