Arbe Robotics Ltd. (NASDAQ:ARBE) Sees Significant Increase in Short Interest

Arbe Robotics Ltd. (NASDAQ:ARBE) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 5,880,000 shares, an increase of 24.8% from the February 13th total of 4,710,000 shares. Currently, 8.9% of the shares of the company are short sold. Based on an average trading volume of 9,390,000 shares, the days-to-cover ratio is presently 0.6 days.

Analysts Set New Price Targets

Separately, Maxim Group lowered shares of Arbe Robotics from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th.

Institutional Trading of Arbe Robotics

Several institutional investors and hedge funds have recently modified their holdings of ARBE. Alyeska Investment Group L.P. purchased a new stake in shares of Arbe Robotics in the fourth quarter valued at about $7,627,000. Saba Capital Management L.P. lifted its holdings 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 purchasing an additional 485,613 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of 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 purchasing an additional 437,949 shares in the last quarter. DnB Asset Management AS lifted its holdings in shares of Arbe Robotics by 26.9% in the fourth quarter. DnB Asset Management AS now owns 129,742 shares of the company’s stock valued at $241,000 after purchasing an additional 27,531 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Arbe Robotics in the fourth quarter valued at about $48,000. Hedge funds and other institutional investors own 33.42% of the company’s stock.

Arbe Robotics Trading Up 5.5 %

Shares of ARBE opened at $1.34 on Wednesday. The firm’s 50-day moving average is $2.36 and its two-hundred day moving average is $2.06. Arbe Robotics has a twelve month low of $1.12 and a twelve month high of $5.09. The firm has a market capitalization of $120.73 million, a P/E ratio of -1.81 and a beta of 0.08.

Arbe Robotics (NASDAQ:ARBE) last issued its earnings results on Wednesday, March 5th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Arbe Robotics had a negative return on equity of 102.87% and a negative net margin of 4,567.91%. The company had revenue of $0.10 million for the quarter, compared to analyst estimates of $0.40 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. 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.