Noam Arkind Sells 35,800 Shares of Arbe Robotics (NASDAQ:ARBE) Stock

Key Points

• CTO Noam Arkind sold 35,800 Arbe Robotics shares at an average price of $0.63, generating $22,554. The transaction was made under a pre-arranged Rule 10b5-1 plan, leaving him with 1.53 million shares.
• Arbe Robotics shares rose 2.9% to $0.78, but the company remains unprofitable, with a market capitalization of approximately $95.7 million and a negative price-to-earnings ratio. Its latest quarterly loss of $0.06 per share was narrower than analysts expected.
• Analyst sentiment is mixed, with an average rating of Hold and a consensus price target of $2.75; institutional investors and hedge funds own 33.42% of the stock.

Arbe Robotics Ltd. (NASDAQ:ARBE - Get Free Report) CTO Noam Arkind sold 35,800 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $0.63, for a total transaction of $22,554.00. Following the sale, the chief technology officer directly owned 1,525,482 shares in the company, valued at approximately $961,053.66. The trade was a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Tuesday, September 8th, Noam Arkind sold 278,800 shares of Arbe Robotics stock. The shares were sold at an average price of $0.78, for a total value of $217,464.00.
• On Friday, September 4th, Noam Arkind sold 22,700 shares of Arbe Robotics stock. The stock was sold at an average price of $0.63, for a total value of $14,301.00.
• On Thursday, September 3rd, Noam Arkind sold 31,000 shares of Arbe Robotics stock. The stock was sold at an average price of $0.64, for a total value of $19,840.00.
• On Wednesday, September 2nd, Noam Arkind sold 31,700 shares of Arbe Robotics stock. The shares were sold at an average price of $0.64, for a total value of $20,288.00.

Arbe Robotics Trading Up 2.9%

ARBE traded up $0.02 during trading on Friday, hitting $0.78. The company's stock had a trading volume of 1,468,328 shares, compared to its average volume of 3,450,257. The firm 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 twelve month low of $0.55 and a twelve month high of $2.88. The business's fifty day simple moving average is $0.72 and its 200 day simple moving average is $0.80.

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, topping the consensus estimate of ($0.08) by $0.02. The business had revenue of $0.70 million during the quarter, compared to the consensus estimate of $0.54 million. Arbe Robotics had a negative return on equity of 90.93% and a negative net margin of 2,116.84%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ARBE. AWM Investment Company Inc. acquired a new position in Arbe Robotics during the second quarter worth $4,570,000. HRT Financial LP purchased a new stake in Arbe Robotics in the 4th quarter valued at $118,000. Resurgent Financial Advisors LLC increased its stake in shares of Arbe Robotics by 51.4% in 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 last quarter. Goldman Sachs Group Inc. purchased a new position in shares of Arbe Robotics during the 4th quarter worth $46,000. Finally, Sender Co & Partners Inc. purchased a new position in shares of Arbe Robotics during the 2nd quarter worth $154,000. 33.42% of the stock is currently owned by institutional investors and hedge funds.

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.

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