Short Interest in Arbe Robotics Ltd. (NASDAQ:ARBE) Expands By 24.8%

Arbe Robotics Ltd. (NASDAQ:ARBE) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 5,880,000 shares, an increase of 24.8% from the February 13th total of 4,710,000 shares. Based on an average daily trading volume, of 9,390,000 shares, the days-to-cover ratio is currently 0.6 days. Currently, 8.9% of the shares of the company are sold short.

Institutional Trading of Arbe Robotics

Several hedge funds have recently bought and sold shares of ARBE. Alyeska Investment Group L.P. bought a new stake in Arbe Robotics in the 4th quarter valued at about $7,627,000. Saba Capital Management L.P. lifted its position in Arbe Robotics by 40.8% in the 4th quarter. Saba Capital Management L.P. now owns 1,676,725 shares of the company’s stock valued at $3,119,000 after purchasing an additional 485,613 shares during the last quarter. Northern Trust Corp lifted its position in Arbe Robotics by 1,261.7% in the 4th quarter. Northern Trust Corp now owns 472,661 shares of the company’s stock valued at $879,000 after purchasing an additional 437,949 shares during the last quarter. DnB Asset Management AS lifted its position in Arbe Robotics by 26.9% in the 4th quarter. DnB Asset Management AS now owns 129,742 shares of the company’s stock valued at $241,000 after purchasing an additional 27,531 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Arbe Robotics in the 4th quarter valued at about $48,000. 33.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Maxim Group downgraded shares of Arbe Robotics from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th.

Arbe Robotics Stock Performance

Arbe Robotics stock opened at $1.27 on Tuesday. The firm’s 50-day moving average is $2.40 and its 200-day moving average is $2.07. Arbe Robotics has a 1 year low of $1.12 and a 1 year high of $5.09. The company has a market cap of $114.42 million, a P/E ratio of -1.72 and a beta of 0.08.

Arbe Robotics (NASDAQ:ARBE) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The business had revenue of $0.10 million during the quarter, compared to the consensus estimate of $0.40 million. Arbe Robotics had a negative return on equity of 102.87% and a negative net margin of 4,567.91%. During the same quarter in the previous year, the business posted ($0.07) earnings per share. As a group, sell-side analysts predict that Arbe Robotics will post -0.58 earnings per share for the current year.

About Arbe Robotics

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.