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

Arbe Robotics Ltd. (NASDAQ:ARBE) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 348,400 shares, a growth of 21.5% from the February 29th total of 286,800 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily volume of 140,900 shares, the days-to-cover ratio is currently 2.5 days.

Arbe Robotics Trading Down 5.0 %

ARBE stock opened at $2.09 on Monday. Arbe Robotics has a twelve month low of $1.39 and a twelve month high of $3.38. The business’s fifty day simple moving average is $1.89 and its two-hundred day simple moving average is $2.00.

Arbe Robotics (NASDAQ:ARBE) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. The company had revenue of $0.35 million for the quarter, compared to the consensus estimate of $4.00 million. Arbe Robotics had a negative net margin of 2,959.18% and a negative return on equity of 69.50%. Analysts forecast that Arbe Robotics will post -0.3 EPS for the current year.

Institutional Trading of Arbe Robotics

Large investors have recently modified their holdings of the company. Geode Capital Management LLC raised its position in Arbe Robotics by 15.5% during the 2nd quarter. Geode Capital Management LLC now owns 35,246 shares of the company’s stock valued at $102,000 after purchasing an additional 4,740 shares in the last quarter. Millennium Management LLC purchased a new stake in Arbe Robotics in the fourth quarter worth about $42,000. XTX Topco Ltd bought a new stake in shares of Arbe Robotics in the 2nd quarter valued at about $39,000. Main Street Financial Solutions LLC bought a new position in shares of Arbe Robotics during the fourth quarter valued at approximately $41,000. Finally, HighTower Advisors LLC purchased a new position in shares of Arbe Robotics in the 1st quarter valued at $80,000. Hedge funds and other institutional investors own 33.42% of the company’s stock.

About Arbe Robotics

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.