Arbe Robotics Ltd. (NASDAQ:ARBE) Sees Large Growth in Short Interest

Arbe Robotics Ltd. (NASDAQ:ARBE) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 8,640,000 shares, a growth of 24.5% from the March 15th total of 6,940,000 shares. Based on an average trading volume of 9,850,000 shares, the short-interest ratio is presently 0.9 days. Currently, 11.9% of the company’s stock are sold short.

Analysts Set New Price Targets

ARBE has been the topic of a number of recent research reports. Canaccord Genuity Group started coverage on shares of Arbe Robotics in a report on Tuesday, April 1st. They issued a “buy” rating and a $1.75 price objective on the stock. Maxim Group cut shares of Arbe Robotics from a “buy” rating to a “hold” rating in a report on Thursday, March 6th.

Arbe Robotics Trading Up 2.9 %

Shares of ARBE opened at $1.08 on Monday. The firm’s 50 day moving average is $1.48 and its 200-day moving average is $1.92. Arbe Robotics has a 12 month low of $0.85 and a 12 month high of $5.09. The stock has a market capitalization of $97.30 million, a PE ratio of -1.46 and a beta of 0.35.

Arbe Robotics (NASDAQ:ARBE) last released its quarterly earnings data on Wednesday, March 5th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The business had revenue of $0.10 million during the quarter, compared to analyst estimates of $0.40 million. Arbe Robotics had a negative net margin of 4,567.91% and a negative return on equity of 102.87%. During the same period last year, the business earned ($0.07) earnings per share. Equities research analysts predict that Arbe Robotics will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of Arbe Robotics

A number of institutional investors have recently bought and sold shares of ARBE. Geode Capital Management LLC grew its position in Arbe Robotics by 22.3% in the 4th quarter. Geode Capital Management LLC now owns 53,025 shares of the company’s stock valued at $99,000 after purchasing an additional 9,658 shares during the period. Walleye Capital LLC bought a new position in shares of Arbe Robotics during the 4th quarter valued at approximately $25,000. Two Sigma Securities LLC purchased a new stake in Arbe Robotics in the fourth quarter worth $37,000. Wolverine Trading LLC bought a new stake in Arbe Robotics in the 4th quarter valued at about $38,000. Finally, Jane Street Group LLC purchased a new stake in shares of Arbe Robotics during the 4th quarter valued at approximately $48,000. Institutional investors own 33.42% of the company’s 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.