Arbe Robotics Ltd. (NASDAQ:ARBE) Short Interest Down 11.5% in January

Arbe Robotics Ltd. (NASDAQ:ARBE - Get Free Report) was the target of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 3,010,000 shares, a drop of 11.5% from the January 15th total of 3,400,000 shares. Based on an average daily volume of 8,040,000 shares, the days-to-cover ratio is presently 0.4 days. Currently, 4.8% of the company's stock are short sold.

Hedge Funds Weigh In On Arbe Robotics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARBE. Alyeska Investment Group L.P. bought a new position in Arbe Robotics during the fourth quarter valued at approximately $7,627,000. Saba Capital Management L.P. raised its position in Arbe Robotics by 40.8% during the fourth quarter. Saba Capital Management L.P. now owns 1,676,725 shares of the company's stock valued at $3,119,000 after acquiring an additional 485,613 shares in the last quarter. Northern Trust Corp raised its position in Arbe Robotics by 1,261.7% during the fourth quarter. Northern Trust Corp now owns 472,661 shares of the company's stock valued at $879,000 after acquiring an additional 437,949 shares in the last quarter. DnB Asset Management AS raised its position in Arbe Robotics by 26.9% during the fourth quarter. DnB Asset Management AS now owns 129,742 shares of the company's stock valued at $241,000 after acquiring an additional 27,531 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Arbe Robotics during the fourth quarter valued at approximately $48,000. Institutional investors own 33.42% of the company's stock.

Arbe Robotics Stock Performance

Shares of ARBE stock traded down $0.15 during trading on Thursday, hitting $2.42. 4,904,761 shares of the company were exchanged, compared to its average volume of 16,428,209. The firm has a market capitalization of $218.02 million, a price-to-earnings ratio of -3.27 and a beta of 0.02. The business's 50-day simple moving average is $2.53 and its 200 day simple moving average is $2.12. Arbe Robotics has a twelve month low of $1.39 and a twelve month high of $5.09.

Arbe Robotics (NASDAQ:ARBE - Get Free Report) last posted its quarterly earnings results on Wednesday, November 27th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate 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 firm earned ($0.12) EPS. On average, equities analysts forecast that Arbe Robotics will post -0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.