Arbe Robotics Ltd. (NASDAQ:ARBE – Get Free Report) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 273,400 shares, a decrease of 44.7% from the August 31st total of 494,000 shares. Based on an average daily trading volume, of 78,700 shares, the days-to-cover ratio is currently 3.5 days. Approximately 0.6% of the shares of the stock are short sold.
Arbe Robotics Stock Performance
NASDAQ ARBE opened at $2.16 on Thursday. The business has a fifty day moving average price of $2.67 and a 200 day moving average price of $2.68. The company has a market cap of $167.23 million, a P/E ratio of -2.67 and a beta of -0.45. Arbe Robotics has a one year low of $1.85 and a one year high of $7.61.
Arbe Robotics (NASDAQ:ARBE – Get Free Report) last released its quarterly earnings results on Wednesday, August 9th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The business had revenue of $0.29 million for the quarter, compared to analysts’ expectations of $0.60 million. Arbe Robotics had a negative return on equity of 83.58% and a negative net margin of 2,126.01%. As a group, sell-side analysts predict that Arbe Robotics will post -0.57 EPS for the current fiscal year.
Hedge Funds Weigh In On Arbe Robotics
A number of hedge funds have recently modified their holdings of the business. XTX Topco Ltd purchased a new position in shares of Arbe Robotics during the 2nd quarter worth $39,000. AWM Investment Company Inc. purchased a new position in shares of Arbe Robotics during the 2nd quarter worth $22,291,000. Credit Suisse AG grew its holdings in shares of Arbe Robotics by 11.0% during the 2nd quarter. Credit Suisse AG now owns 1,729,089 shares of the company’s stock worth $4,997,000 after purchasing an additional 171,425 shares during the period. Geode Capital Management LLC grew its holdings in shares of Arbe Robotics by 15.5% during the 2nd quarter. Geode Capital Management LLC now owns 35,246 shares of the company’s stock worth $102,000 after purchasing an additional 4,740 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in Arbe Robotics during the 1st quarter worth about $96,000. 15.67% of the stock is currently owned by hedge funds and other institutional investors.
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, Sweden, Germany, Switzerland, the United States, Italy, and Israel. 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.