Arbe Robotics (NASDAQ:ARBE) Cut to “Hold” at Maxim Group

Maxim Group lowered shares of Arbe Robotics (NASDAQ:ARBE) from a buy rating to a hold rating in a research report released on Thursday morning, MarketBeat.com reports.

Arbe Robotics Stock Performance

ARBE stock opened at $1.29 on Thursday. The firm has a fifty day moving average price of $2.55 and a 200 day moving average price of $2.10. Arbe Robotics has a fifty-two week low of $1.15 and a fifty-two week high of $5.09. The firm has a market cap of $116.22 million, a PE ratio of -1.74 and a beta of 0.08.

Arbe Robotics (NASDAQ:ARBE) last issued its quarterly earnings data on Wednesday, March 5th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $0.10 million during the quarter, compared to analysts’ expectations of $0.40 million. During the same period in the previous year, the business earned ($0.07) earnings per share. On average, equities analysts predict that Arbe Robotics will post -0.58 EPS for the current year.

Institutional Trading of Arbe Robotics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Walleye Capital LLC purchased a new position in Arbe Robotics during the fourth quarter worth $25,000. Two Sigma Securities LLC purchased a new position in shares of Arbe Robotics during the 4th quarter worth about $37,000. Wolverine Trading LLC bought a new position in Arbe Robotics during the 4th quarter valued at about $38,000. Jane Street Group LLC purchased a new stake in Arbe Robotics in the 4th quarter worth about $48,000. Finally, Geode Capital Management LLC raised its position in Arbe Robotics by 22.3% in the 4th quarter. Geode Capital Management LLC now owns 53,025 shares of the company’s stock worth $99,000 after purchasing an additional 9,658 shares during the period. 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.