Arbe Robotics (NASDAQ:ARBE) Shares Down 2.9% - Here's What Happened

Arbe Robotics Ltd. (NASDAQ:ARBE - Get Free Report)'s share price fell 2.9% during trading on Friday . The stock traded as low as $1.82 and last traded at $1.83. 37,378 shares were traded during trading, a decline of 51% from the average session volume of 76,839 shares. The stock had previously closed at $1.89.

Arbe Robotics Stock Down 2.9 %

The stock has a market cap of $147.74 million, a PE ratio of -2.51 and a beta of -0.03. The firm has a 50 day moving average price of $1.96 and a 200 day moving average price of $1.95.

Arbe Robotics (NASDAQ:ARBE - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. The company had revenue of $0.41 million for the quarter, compared to analyst estimates of $0.20 million. Arbe Robotics had a negative return on equity of 80.84% and a negative net margin of 3,318.73%. Equities analysts forecast that Arbe Robotics Ltd. will post -0.54 earnings per share for the current year.

Institutional Investors Weigh In On Arbe Robotics

Institutional investors and hedge funds have recently modified their holdings of the company. M&G Plc purchased a new stake in shares of Arbe Robotics in the first quarter valued at approximately $7,439,000. PEAK6 Investments LLC purchased a new stake in shares of Arbe Robotics in the first quarter valued at approximately $319,000. Finally, Ground Swell Capital LLC purchased a new stake in shares of Arbe Robotics in the second quarter valued at approximately $34,000. 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.

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