Arbe Robotics (NASDAQ:ARBE) CTO Noam Arkind Sells 278,800 Shares of Stock

Key Points

• Arbe Robotics CTO Noam Arkind sold 278,800 shares at an average price of $0.78, generating $217,464 and reducing his ownership by 18.55%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• ARBE shares traded at $0.78, with a market capitalization of approximately $95.7 million; the stock remains well below its 52-week high of $2.88. The company recently reported a quarterly loss of $0.06 per share and revenue of $0.70 million.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $2.75. Institutional investors own 33.42% of the company, while several firms recently initiated positions.

Arbe Robotics Ltd. (NASDAQ:ARBE - Get Free Report) CTO Noam Arkind sold 278,800 shares of the company's stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $0.78, for a total value of $217,464.00. Following the transaction, the chief technology officer owned 1,223,982 shares of the company's stock, valued at approximately $954,705.96. The trade was a 18.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Noam Arkind also recently made the following trade(s):

• On Friday, September 4th, Noam Arkind sold 22,700 shares of Arbe Robotics stock. The shares were sold at an average price of $0.63, for a total value of $14,301.00.
• On Thursday, September 3rd, Noam Arkind sold 35,800 shares of Arbe Robotics stock. The shares were sold at an average price of $0.63, for a total value of $22,554.00.
• On Thursday, September 3rd, Noam Arkind sold 31,000 shares of Arbe Robotics stock. The shares were sold at an average price of $0.64, for a total transaction of $19,840.00.
• On Wednesday, September 2nd, Noam Arkind sold 31,700 shares of Arbe Robotics stock. The stock was sold at an average price of $0.64, for a total transaction of $20,288.00.

Arbe Robotics Trading Up 2.9%

NASDAQ:ARBE traded up $0.02 during mid-day trading on Friday, hitting $0.78. The stock had a trading volume of 1,468,318 shares, compared to its average volume of 3,450,257. The company has a 50 day simple moving average of $0.72 and a 200-day simple moving average of $0.80. The stock has a market capitalization of $95.73 million, a price-to-earnings ratio of -2.30 and a beta of 1.12. Arbe Robotics Ltd. has a 52 week low of $0.55 and a 52 week high of $2.88.

Arbe Robotics (NASDAQ:ARBE - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.02. Arbe Robotics had a negative return on equity of 90.93% and a negative net margin of 2,116.84%.The company had revenue of $0.70 million for the quarter, compared to analysts' expectations of $0.54 million.

Wall Street Analysts Forecast Growth

ARBE has been the subject of several research analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Arbe Robotics in a report on Tuesday, August 18th. Canaccord Genuity Group set a $2.00 price target on shares of Arbe Robotics in a research note on Friday. Finally, Wall Street Zen cut Arbe Robotics from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $2.75.

Hedge Funds Weigh In On Arbe Robotics

Large investors have recently made changes to their positions in the business. Resurgent Financial Advisors LLC acquired a new position in shares of Arbe Robotics in the 3rd quarter worth approximately $30,000. Invesco Ltd. bought a new stake in Arbe Robotics during the second quarter worth approximately $41,000. Goldman Sachs Group Inc. bought a new stake in Arbe Robotics during the fourth quarter worth approximately $46,000. Cubist Systematic Strategies LLC acquired a new position in Arbe Robotics in the first quarter worth approximately $63,000. Finally, HRT Financial LP acquired a new position in Arbe Robotics in the fourth quarter worth approximately $118,000. Institutional investors own 33.42% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.