Arbe Robotics Ltd. (NASDAQ:ARBE) Sees Large Decrease in Short Interest

Arbe Robotics Ltd. (NASDAQ:ARBE) was the recipient of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 3,010,000 shares, a decrease of 11.5% from the January 15th total of 3,400,000 shares. Based on an average trading volume of 8,040,000 shares, the days-to-cover ratio is presently 0.4 days. Approximately 4.8% of the company’s shares are sold short.

Arbe Robotics Trading Down 6.2 %

ARBE stock opened at $2.70 on Tuesday. The business’s fifty day moving average price is $2.50 and its 200 day moving average price is $2.11. Arbe Robotics has a 12-month low of $1.39 and a 12-month high of $5.09. The company has a market capitalization of $243.24 million, a PE ratio of -3.65 and a beta of 0.02.

Arbe Robotics (NASDAQ:ARBE) last issued its quarterly earnings results on Wednesday, November 27th. The company reported ($0.13) earnings per share (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 posted ($0.12) EPS. Research analysts predict that Arbe Robotics will post -0.58 EPS for the current fiscal year.

Analyst Ratings Changes

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 report on Friday, November 29th.

Hedge Funds Weigh In On Arbe Robotics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Walleye Capital LLC acquired a new stake in shares of Arbe Robotics in the fourth quarter valued at $25,000. Two Sigma Securities LLC purchased a new stake in Arbe Robotics during the 4th quarter worth about $37,000. Wolverine Trading LLC acquired a new stake in Arbe Robotics in the 4th quarter valued at about $38,000. Jane Street Group LLC purchased a new position in shares of Arbe Robotics in the 4th quarter valued at about $48,000. Finally, Ground Swell Capital LLC grew its position in shares of Arbe Robotics by 114.8% during the third quarter. Ground Swell Capital LLC now owns 38,024 shares of the company’s stock worth $73,000 after buying an additional 20,324 shares in the last quarter. Hedge funds and other 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.