Arbe Robotics (NASDAQ:ARBE) Earns Buy Rating from Analysts at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Arbe Robotics (NASDAQ:ARBE - Free Report) in a research report report published on Tuesday, MarketBeat Ratings reports. The firm 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 note on Thursday, March 6th.

Arbe Robotics Price Performance

Arbe Robotics stock traded down $0.07 during trading hours on Tuesday, reaching $0.94. The company had a trading volume of 1,595,710 shares, compared to its average volume of 2,670,757. The firm has a market cap of $84.69 million, a price-to-earnings ratio of -1.27 and a beta of 0.08. Arbe Robotics has a 12-month low of $0.90 and a 12-month high of $5.09. The company has a 50-day moving average price of $1.86 and a 200 day moving average price of $1.99.

Arbe Robotics (NASDAQ:ARBE - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.01). The firm had revenue of $0.10 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned ($0.07) earnings per share. As a group, research analysts expect that Arbe Robotics will post -0.58 earnings per share for the current year.

Institutional Trading of Arbe Robotics

Several large investors have recently added to or reduced their stakes in ARBE. Walleye Capital LLC bought a new position in Arbe Robotics in the 4th quarter worth $25,000. Two Sigma Securities LLC purchased a new position in shares of Arbe Robotics during the fourth quarter valued at about $37,000. Wolverine Trading LLC bought a new position in Arbe Robotics in the fourth quarter worth about $38,000. Jane Street Group LLC purchased a new stake in Arbe Robotics in the fourth quarter worth about $48,000. Finally, Geode Capital Management LLC lifted its holdings in Arbe Robotics by 22.3% in the fourth quarter. Geode Capital Management LLC now owns 53,025 shares of the company's stock worth $99,000 after buying an additional 9,658 shares during the period. Institutional investors own 33.42% of the company's stock.

Arbe Robotics Company Profile

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.