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

Arbe Robotics Ltd. (NASDAQ:ARBE) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 8,640,000 shares, a growth of 24.5% from the March 15th total of 6,940,000 shares. Based on an average trading volume of 9,850,000 shares, the short-interest ratio is presently 0.9 days. Approximately 11.9% of the shares of the stock are short sold.

Hedge Funds Weigh In On Arbe Robotics

Several hedge funds have recently added to or reduced their stakes in the company. DnB Asset Management AS raised its holdings in Arbe Robotics by 26.9% during the 4th quarter. DnB Asset Management AS now owns 129,742 shares of the company’s stock worth $241,000 after purchasing an additional 27,531 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Arbe Robotics during the fourth quarter worth approximately $48,000. Wolverine Trading LLC acquired a new position in Arbe Robotics in the fourth quarter valued at approximately $38,000. Northern Trust Corp boosted its stake in Arbe Robotics by 1,261.7% in 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 during the last quarter. Finally, Saba Capital Management L.P. grew its holdings in Arbe Robotics by 40.8% during the 4th quarter. Saba Capital Management L.P. now owns 1,676,725 shares of the company’s stock worth $3,119,000 after acquiring an additional 485,613 shares during the period. Institutional investors own 33.42% of the company’s stock.

Analyst Ratings Changes

ARBE has been the topic of several analyst reports. Maxim Group lowered shares of Arbe Robotics from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Canaccord Genuity Group started coverage on shares of Arbe Robotics in a research note on Tuesday, April 1st. They set a “buy” rating and a $1.75 price objective on the stock.

Arbe Robotics Trading Up 2.9 %

ARBE opened at $1.08 on Monday. Arbe Robotics has a 1-year low of $0.85 and a 1-year high of $5.09. The firm has a 50-day moving average price of $1.48 and a two-hundred day moving average price of $1.92. The stock has a market capitalization of $97.30 million, a PE ratio of -1.46 and a beta of 0.35.

Arbe Robotics (NASDAQ:ARBE) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $0.10 million for the quarter, compared to analyst estimates of $0.40 million. Arbe Robotics had a negative return on equity of 102.87% and a negative net margin of 4,567.91%. During the same period in the prior year, the company posted ($0.07) EPS. On average, research analysts predict that Arbe Robotics will post -0.58 EPS for the current year.

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.