Arbe Robotics (NASDAQ:ARBE) Stock Price Up 0.8% – Here’s What Happened

Arbe Robotics Ltd. (NASDAQ:ARBE)’s share price traded up 0.8% during mid-day trading on Thursday . The stock traded as high as $1.90 and last traded at $1.88. 28,992 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 107,708 shares. The stock had previously closed at $1.86.

Arbe Robotics Stock Performance

The stock has a market capitalization of $146.67 million, a PE ratio of -2.44 and a beta of -0.03. The stock’s 50-day moving average is $1.99 and its 200 day moving average is $1.96.

Arbe Robotics (NASDAQ:ARBE) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. Arbe Robotics had a negative return on equity of 80.84% and a negative net margin of 3,318.73%. The company had revenue of $0.41 million for the quarter, compared to analyst estimates of $0.20 million. Analysts expect that Arbe Robotics Ltd. will post -0.54 earnings per share for the current year.

Institutional Investors Weigh In On Arbe Robotics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. M&G Plc purchased a new position in shares of Arbe Robotics during the first quarter worth approximately $7,439,000. Ground Swell Capital LLC acquired a new stake in Arbe Robotics during the 2nd quarter worth $34,000. Finally, PEAK6 Investments LLC purchased a new position in Arbe Robotics during the 1st quarter worth $319,000. 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.