Migdal Insurance & Financial Holdings Ltd. cut its stake in shares of Arbe Robotics Ltd. (NASDAQ:ARBE - Free Report) by 14.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,200,000 shares of the company's stock after selling 200,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned 1.33% of Arbe Robotics worth $1,236,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of ARBE. Walleye Capital LLC purchased a new position in Arbe Robotics in the fourth quarter worth $25,000. Two Sigma Securities LLC purchased a new position in Arbe Robotics in the fourth quarter worth $37,000. Wolverine Trading LLC purchased a new position in shares of Arbe Robotics in the fourth quarter valued at $38,000. Jane Street Group LLC purchased a new position in shares of Arbe Robotics in the fourth quarter valued at $48,000. Finally, SBI Securities Co. Ltd. increased its position in shares of Arbe Robotics by 732.7% in the first 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 owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, Canaccord Genuity Group initiated coverage on Arbe Robotics in a research report on Tuesday, April 1st. They issued a "buy" rating and a $1.75 price target for the company.
Check Out Our Latest Research Report on ARBE
Arbe Robotics Stock Down 5.0%
Shares of NASDAQ ARBE traded down $0.08 during midday trading on Friday, hitting $1.51. The stock had a trading volume of 1,821,430 shares, compared to its average volume of 3,109,282. The company has a market capitalization of $158.97 million, a price-to-earnings ratio of -2.29 and a beta of 0.44. Arbe Robotics Ltd. has a 1-year low of $0.85 and a 1-year high of $5.09. The company has a fifty day moving average price of $1.62 and a 200 day moving average price of $1.80.
About Arbe Robotics
(
Free Report)
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.
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