Arbe Robotics (NASDAQ:ARBE) Downgraded by Maxim Group to Hold

Arbe Robotics (NASDAQ:ARBE) was downgraded by Maxim Group from a “buy” rating to a “hold” rating in a report issued on Thursday,Briefing.com Automated Import reports.

Arbe Robotics Stock Down 18.7 %

ARBE opened at $1.35 on Thursday. The firm has a market cap of $121.63 million, a price-to-earnings ratio of -1.82 and a beta of 0.02. Arbe Robotics has a 52 week low of $1.29 and a 52 week high of $5.09. The business’s 50 day moving average is $2.58 and its two-hundred day moving average is $2.11.

Arbe Robotics (NASDAQ:ARBE) last announced its 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 business had revenue of $0.10 million during the quarter, compared to analyst estimates 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 period in the previous year, the firm earned ($0.07) earnings per share. Equities analysts expect that Arbe Robotics will post -0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Arbe Robotics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new position in Arbe Robotics in the 4th quarter valued at $48,000. Wolverine Trading LLC purchased a new position in shares of Arbe Robotics during the 4th quarter worth approximately $38,000. Northern Trust Corp lifted its holdings in shares of Arbe Robotics by 1,261.7% in the 4th quarter. Northern Trust Corp now owns 472,661 shares of the company’s stock valued at $879,000 after buying an additional 437,949 shares during the period. Saba Capital Management L.P. boosted its stake in shares of Arbe Robotics by 40.8% in 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 buying an additional 485,613 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in Arbe Robotics during the fourth quarter worth $7,627,000. Hedge funds and other institutional investors 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.