Arbe Robotics Ltd. (NASDAQ:ARBE) Short Interest Update

Arbe Robotics Ltd. (NASDAQ:ARBE) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,210,000 shares, a growth of 77.8% from the December 15th total of 680,500 shares. Based on an average daily volume of 4,690,000 shares, the days-to-cover ratio is presently 0.3 days. Approximately 2.2% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, Maxim Group dropped their target price on shares of Arbe Robotics from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, November 29th.

Arbe Robotics Stock Performance

Shares of Arbe Robotics stock opened at $3.00 on Wednesday. The firm has a market cap of $242.18 million, a PE ratio of -4.05 and a beta of -0.04. The business’s 50 day simple moving average is $2.02 and its 200 day simple moving average is $2.01. Arbe Robotics has a 52-week low of $1.39 and a 52-week high of $5.09.

Institutional Trading of Arbe Robotics

A hedge fund recently raised its stake in Arbe Robotics stock. Ground Swell Capital LLC increased its stake in shares of Arbe Robotics Ltd. (NASDAQ:ARBE) by 114.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,024 shares of the company’s stock after acquiring an additional 20,324 shares during the period. Ground Swell Capital LLC’s holdings in Arbe Robotics were worth $73,000 as of its most recent filing with the SEC. 33.42% of the stock is currently owned by institutional investors and hedge funds.

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.