Noam Arkind Sells 31,700 Shares of Arbe Robotics (NASDAQ:ARBE) Stock

Key Points

• CTO Noam Arkind sold 31,700 Arbe Robotics shares at an average price of $0.64, generating $20,288 under a pre-arranged Rule 10b5-1 trading plan. He subsequently owned 1.59 million shares, and also sold an additional 31,000 shares the following day.
• Arbe Robotics shares fell 0.8% to $0.62, with the stock trading near its 12-month low of $0.55 and below its 50-day and 200-day moving averages. The company reported a quarterly loss of $0.06 per share but exceeded revenue and earnings expectations.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $2.38; institutional investors own approximately 33.42% of the company.

Arbe Robotics Ltd. (NASDAQ:ARBE - Get Free Report) CTO Noam Arkind sold 31,700 shares of the firm's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $0.64, for a total transaction of $20,288.00. Following the transaction, the chief technology officer directly owned 1,592,282 shares in the company, valued at approximately $1,019,060.48. This represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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.

Arbe Robotics Trading Down 0.8%

NASDAQ ARBE traded down $0.01 during trading on Thursday, reaching $0.62. The company's stock had a trading volume of 636,477 shares, compared to its average volume of 2,835,646. The firm has a 50 day moving average price of $0.72 and a 200 day moving average price of $0.81. Arbe Robotics Ltd. has a 12 month low of $0.55 and a 12 month high of $2.88. The firm has a market capitalization of $76.63 million, a price-to-earnings ratio of -1.84 and a beta of 1.12.

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 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.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Arbe Robotics

Several large investors have recently bought and sold shares of ARBE. AWM Investment Company Inc. acquired a new position in Arbe Robotics in the 2nd quarter valued at approximately $4,570,000. AlphaCentric Advisors LLC acquired a new position in shares of Arbe Robotics during the first quarter worth $183,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Arbe Robotics in the fourth quarter worth $315,000. Aristides Capital LLC bought a new stake in shares of Arbe Robotics in the fourth quarter worth $180,000. Finally, XTX Topco Ltd increased its holdings in Arbe Robotics by 56.2% in the fourth quarter. XTX Topco Ltd now owns 275,728 shares of the company's stock valued at $325,000 after purchasing an additional 99,206 shares during the period. 33.42% of the stock is currently owned by institutional investors.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source