Arbe Robotics (NASDAQ:ARBE) CTO Sells 31,000 Shares of Stock

Key Points

• CTO Noam Arkind sold 31,000 Arbe Robotics shares at an average price of $0.64, generating $19,840. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with 1,561,282 shares.
• Arbe Robotics shares fell 0.8% to $0.62, near the lower end of their 12-month range of $0.55 to $2.88. The company reported a quarterly loss of $0.06 per share but exceeded analyst expectations and posted $0.70 million in revenue.
• Analyst sentiment remains mixed, with an average rating of Hold and a consensus price target of $2.38; institutional investors own 33.42% of the company.

Arbe Robotics Ltd. (NASDAQ:ARBE - Get Free Report) CTO Noam Arkind sold 31,000 shares of the firm's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $0.64, for a total transaction of $19,840.00. Following the completion of the sale, the chief technology officer owned 1,561,282 shares in the company, valued at $999,220.48. This represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 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 Stock Down 0.8%

Shares of NASDAQ ARBE traded down $0.01 during trading hours on Thursday, hitting $0.62. 636,477 shares of the stock were exchanged, compared to its average volume of 2,835,646. Arbe Robotics Ltd. has a 12 month low of $0.55 and a 12 month high of $2.88. The firm has a fifty day moving average price of $0.72 and a 200-day moving average price of $0.81. The company has a market cap of $76.63 million, a PE ratio of -1.84 and a beta of 1.12.

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

Hedge Funds Weigh In On Arbe Robotics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC lifted its position in Arbe Robotics by 51.4% during the 4th quarter. Resurgent Financial Advisors LLC now owns 27,100 shares of the company's stock worth $32,000 after acquiring an additional 9,200 shares during the period. Sender Co & Partners Inc. increased its holdings in shares of Arbe Robotics by 19.6% in the third quarter. Sender Co & Partners Inc. now owns 103,620 shares of the company's stock valued at $171,000 after purchasing an additional 16,991 shares during the period. Two Sigma Investments LP increased its holdings in shares of Arbe Robotics by 25.2% in the third quarter. Two Sigma Investments LP now owns 109,283 shares of the company's stock valued at $180,000 after purchasing an additional 21,990 shares during the period. Invesco Ltd. acquired a new position in shares of Arbe Robotics in the second quarter valued at about $41,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Arbe Robotics in the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 33.42% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ARBE shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Arbe Robotics in a research report on Tuesday, August 18th. Canaccord Genuity Group set a $1.25 target price on Arbe Robotics in a research report on Friday, August 7th. Finally, Wall Street Zen cut Arbe Robotics from a "hold" rating to a "sell" rating in a research note on Saturday, June 27th. Two investment 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 company currently has an average rating of "Hold" and a consensus price target of $2.38.

Arbe Robotics Company Profile

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.

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