Saba Capital Management L.P. Has $3.12 Million Holdings in Arbe Robotics Ltd. (NASDAQ:ARBE)

Saba Capital Management L.P. raised its position in shares of Arbe Robotics Ltd. (NASDAQ:ARBE - Free Report) by 40.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,676,725 shares of the company's stock after buying an additional 485,613 shares during the quarter. Saba Capital Management L.P. owned 1.86% of Arbe Robotics worth $3,119,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alyeska Investment Group L.P. acquired a new stake in shares of Arbe Robotics during the fourth quarter valued at approximately $7,627,000. Jane Street Group LLC purchased a new position in Arbe Robotics during the 4th quarter worth approximately $48,000. Northern Trust Corp raised its stake in Arbe Robotics by 1,261.7% during the 4th quarter. Northern Trust Corp now owns 472,661 shares of the company's stock valued at $879,000 after purchasing an additional 437,949 shares during the period. Two Sigma Securities LLC purchased a new stake in shares of Arbe Robotics in the fourth quarter valued at $37,000. Finally, Walleye Capital LLC acquired a new stake in shares of Arbe Robotics in the fourth quarter worth $25,000. 33.42% of the stock is currently owned by institutional investors and hedge funds.

Arbe Robotics Stock Up 1.0%

Shares of NASDAQ:ARBE traded up $0.02 during trading on Thursday, reaching $1.53. 973,884 shares of the company traded hands, compared to its average volume of 7,166,123. The firm has a fifty day simple moving average of $1.25 and a 200 day simple moving average of $1.83. Arbe Robotics Ltd. has a 1-year low of $0.85 and a 1-year high of $5.09. The firm has a market cap of $137.39 million, a P/E ratio of -2.06 and a beta of 0.30.

Arbe Robotics (NASDAQ:ARBE - Get Free Report) last issued its earnings results on Wednesday, March 5th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.01). Arbe Robotics had a negative net margin of 4,567.91% and a negative return on equity of 102.87%. The firm had revenue of $0.10 million during the quarter, compared to analysts' expectations of $0.40 million. During the same quarter last year, the firm earned ($0.07) EPS. As a group, research analysts anticipate that Arbe Robotics Ltd. will post -0.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Maxim Group downgraded Arbe Robotics from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Canaccord Genuity Group assumed coverage on Arbe Robotics in a report on Tuesday, April 1st. They issued a "buy" rating and a $1.75 target price on the stock.

About Arbe Robotics

Arbe Robotics Ltd., a semiconductor company, provides 4D imaging radar solutions for tier 1 automotive suppliers and automotive manufacturers in China, Hong Kong, Sweden, Germany, the United States, Israel, and internationally. It offers 4D imaging radar chipset solutions that address the core issues that have caused autonomous vehicle and autopilot accidents, such as detecting stationary objects, identifying vulnerable road users, operation at poor lighting conditions, and eliminating false alarms without radar ambiguities.