Maxim Group Issues Pessimistic Forecast for Arbe Robotics (NASDAQ:ARBE) Stock Price

Arbe Robotics (NASDAQ:ARBE) had its price objective reduced by investment analysts at Maxim Group from $4.00 to $3.00 in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The firm presently has a “buy” rating on the stock. Maxim Group’s price target would indicate a potential upside of 68.54% from the company’s current price.

Arbe Robotics Stock Performance

Shares of Arbe Robotics stock opened at $1.78 on Friday. The firm has a market cap of $143.70 million, a P/E ratio of -2.41 and a beta of -0.03. The firm’s 50-day simple moving average is $1.87 and its 200-day simple moving average is $1.94. Arbe Robotics has a twelve month low of $1.40 and a twelve month high of $2.57.

Institutional Investors Weigh In On Arbe Robotics

A hedge fund recently bought a new stake in Arbe Robotics stock. Ground Swell Capital LLC purchased a new stake in Arbe Robotics Ltd. (NASDAQ:ARBE) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 17,700 shares of the company’s stock, valued at approximately $34,000. 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.