Arbe Robotics (NASDAQ:ARBE) Coverage Initiated by Analysts at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Arbe Robotics (NASDAQ:ARBE - Free Report) in a report published on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $1.75 price target on the stock.

Separately, Maxim Group cut Arbe Robotics from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th.

Arbe Robotics Price Performance

Shares of ARBE stock traded up $0.02 during trading hours on Tuesday, hitting $1.06. The stock had a trading volume of 1,112,150 shares, compared to its average volume of 2,657,245. The firm has a market capitalization of $95.50 million, a PE ratio of -1.43 and a beta of 0.08. The stock's 50 day moving average is $1.93 and its 200 day moving average is $2.00. Arbe Robotics has a twelve month low of $0.97 and a twelve month high of $5.09.

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

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Institutional Trading of Arbe Robotics

Several hedge funds have recently made changes to their positions in ARBE. Alyeska Investment Group L.P. purchased a new position in Arbe Robotics during the fourth quarter worth about $7,627,000. Saba Capital Management L.P. increased its position in Arbe Robotics by 40.8% during the 4th quarter. Saba Capital Management L.P. now owns 1,676,725 shares of the company's stock worth $3,119,000 after purchasing an additional 485,613 shares during the period. Northern Trust Corp raised its stake in shares of Arbe Robotics by 1,261.7% during the 4th quarter. Northern Trust Corp now owns 472,661 shares of the company's stock worth $879,000 after buying an additional 437,949 shares in the last quarter. DnB Asset Management AS lifted its holdings in shares of Arbe Robotics by 26.9% in the 4th quarter. DnB Asset Management AS now owns 129,742 shares of the company's stock valued at $241,000 after buying an additional 27,531 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Arbe Robotics in the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds 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.