Arbe Robotics Ltd. (NASDAQ:ARBE) Short Interest Up 13.2% in August

Arbe Robotics Ltd. (NASDAQ:ARBE) was the recipient of a large increase in short interest in August. As of August 15th, there was short interest totalling 622,800 shares, an increase of 13.2% from the July 31st total of 550,200 shares. Based on an average daily volume of 124,700 shares, the days-to-cover ratio is presently 5.0 days. Approximately 1.3% of the shares of the stock are sold short.

Arbe Robotics Stock Performance

Shares of ARBE stock opened at $2.00 on Friday. Arbe Robotics has a fifty-two week low of $1.39 and a fifty-two week high of $2.77. The company has a market cap of $156.44 million, a PE ratio of -2.60 and a beta of -0.02. The stock’s fifty day moving average price is $2.08 and its two-hundred day moving average price is $1.94.

Arbe Robotics (NASDAQ:ARBE) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.02. Arbe Robotics had a negative return on equity of 70.80% and a negative net margin of 3,705.91%. The company had revenue of $0.41 million for the quarter, compared to the consensus estimate of $0.20 million. On average, equities analysts predict that Arbe Robotics will post -0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Arbe Robotics

Several hedge funds have recently modified their holdings of the company. Ground Swell Capital LLC bought a new position in Arbe Robotics during the 2nd quarter worth $34,000. Main Street Financial Solutions LLC bought a new position in Arbe Robotics during the 4th quarter worth $41,000. PEAK6 Investments LLC bought a new position in Arbe Robotics during the 1st quarter worth $319,000. Finally, M&G Plc bought a new position in Arbe Robotics during the 1st quarter worth $7,439,000. Institutional investors and hedge funds 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.