Arbe Robotics (NASDAQ:ARBE) Shares Down 0.8% - Here's Why

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

Analyst Upgrades and Downgrades

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

Arbe Robotics Stock Performance

The business's 50 day simple moving average is $2.37 and its 200-day simple moving average is $2.09. The stock has a market capitalization of $247.76 million, a price-to-earnings ratio of -3.72 and a beta of 0.02.

Arbe Robotics (NASDAQ:ARBE - Get Free Report) last issued its quarterly earnings results on Wednesday, November 27th. The company reported ($0.13) earnings per share 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 quarter last year, the business earned ($0.12) earnings per share. As a group, sell-side analysts expect that Arbe Robotics Ltd. will post -0.58 EPS for the current year.

Institutional Trading of Arbe Robotics

A hedge fund recently raised its stake in Arbe Robotics stock. Ground Swell Capital LLC boosted its holdings in shares of Arbe Robotics Ltd. (NASDAQ:ARBE - Free Report) by 114.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter. 33.42% of the stock is currently owned by institutional investors.

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.