Arbe Robotics (NASDAQ:ARBE) Stock Price Down 1.6% - Here's Why

Key Points

• Arbe Robotics shares fell 1.6% to about $0.43 in mid-day trading, with volume 40% below the average session level. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: two analysts rate the stock Buy and one rates it Sell, producing an overall “Hold” rating with an average price target of $2.75. Wall Street Zen and Weiss Ratings recently downgraded the shares.
• The company remains deeply unprofitable, despite beating quarterly estimates with a $0.06 loss per share and $0.70 million in revenue. Insiders sold 400,000 shares over the past 90 days, while AWM Investment Company acquired a 4.49% stake.

Shares of Arbe Robotics Ltd. (NASDAQ:ARBE - Get Free Report) fell 1.6% during mid-day trading on Friday. The stock traded as low as $0.4250 and last traded at $0.4319. 752,256 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 1,263,714 shares. The stock had previously closed at $0.4389.

Wall Street Analyst Weigh In

ARBE has been the subject of a number of analyst reports. Wall Street Zen cut Arbe Robotics from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. Weiss Ratings cut Arbe Robotics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday. Finally, Canaccord Genuity Group set a $2.00 price target on shares of Arbe Robotics in a research report on Friday, September 11th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Arbe Robotics currently has an average rating of "Hold" and an average target price of $2.75.

Arbe Robotics Stock Down 1.6%

The company's fifty day moving average is $0.63 and its 200 day moving average is $0.76. The firm has a market cap of $54.99 million, a price-to-earnings ratio of -1.27 and a beta of 1.15.

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

Insider Buying and Selling

In other Arbe Robotics news, CTO Noam Arkind sold 278,800 shares of Arbe Robotics stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $0.78, for a total transaction of $217,464.00. Following the sale, the chief technology officer owned 1,223,982 shares in the company, valued at $954,705.96. The trade was a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 400,000 shares of company stock worth $294,447 over the last ninety days. 53.53% of the stock is owned by corporate insiders.

Institutional Trading of Arbe Robotics

An institutional investor recently bought a new position in Arbe Robotics stock. AWM Investment Company Inc. acquired a new position in shares of Arbe Robotics Ltd. (NASDAQ:ARBE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,506,444 shares of the company's stock, valued at approximately $4,570,000. AWM Investment Company Inc. owned approximately 4.49% of Arbe Robotics as of its most recent filing with the Securities & Exchange Commission. 33.42% of the stock is owned by institutional investors and hedge funds.

Arbe Robotics Company Profile

Arbe Robotics Ltd. is an Israel-based technology company that develops high-resolution four-dimensional imaging radar systems for the automotive industry. Its technology is designed to help vehicles detect and classify surrounding objects, estimate their position and movement, and operate more safely in advanced driver-assistance and autonomous-driving applications.

The company's product portfolio includes radar chipsets, reference designs, perception software and related radar solutions.

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