Arbe Robotics (NASDAQ:ARBE) Stock Price Down 0.8% – Here’s Why

Arbe Robotics Ltd. (NASDAQ:ARBE) shares dropped 0.8% during mid-day trading on Wednesday . The company traded as low as $2.37 and last traded at $2.48. Approximately 3,567,867 shares traded hands during trading, a decline of 82% from the average daily volume of 19,843,059 shares. The stock had previously closed at $2.50.

Wall Street Analyst Weigh In

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

Arbe Robotics Stock Performance

The firm has a market cap of $247.75 million, a price-to-earnings ratio of -3.72 and a beta of 0.01. The company’s fifty day moving average is $2.35 and its two-hundred day moving average is $2.08.

Arbe Robotics (NASDAQ:ARBE) last issued its quarterly earnings data on Wednesday, November 27th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). Arbe Robotics had a negative return on equity of 102.87% and a negative net margin of 4,567.91%. During the same period last year, the firm posted ($0.12) EPS. As a group, analysts forecast that Arbe Robotics Ltd. will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of Arbe Robotics

An institutional investor recently raised its position in Arbe Robotics stock. Ground Swell Capital LLC lifted its position in shares of Arbe Robotics Ltd. (NASDAQ:ARBE) by 114.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,024 shares of the company’s stock after purchasing 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 SEC filing. Hedge funds and other 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.