Maxim Group Downgrades Arbe Robotics (NASDAQ:ARBE) to Hold

Arbe Robotics (NASDAQ:ARBE) was downgraded by stock analysts at Maxim Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports.

Arbe Robotics Trading Down 0.8 %

Shares of Arbe Robotics stock opened at $1.29 on Thursday. The firm has a market capitalization of $116.22 million, a PE ratio of -1.74 and a beta of 0.08. The business’s 50-day moving average price is $2.55 and its 200-day moving average price is $2.10. Arbe Robotics has a 12 month low of $1.15 and a 12 month high of $5.09.

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

Institutional Investors Weigh In On Arbe Robotics

Several institutional investors have recently bought and sold shares of the stock. Alyeska Investment Group L.P. purchased a new stake in Arbe Robotics during the 4th quarter valued at about $7,627,000. Saba Capital Management L.P. boosted its holdings in Arbe Robotics by 40.8% during 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 acquiring an additional 485,613 shares during the period. Northern Trust Corp boosted its holdings in Arbe Robotics by 1,261.7% during the 4th quarter. Northern Trust Corp now owns 472,661 shares of the company’s stock valued at $879,000 after acquiring an additional 437,949 shares during the period. DnB Asset Management AS boosted its holdings in Arbe Robotics by 26.9% during the 4th quarter. DnB Asset Management AS now owns 129,742 shares of the company’s stock valued at $241,000 after acquiring an additional 27,531 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Arbe Robotics by 22.3% during the 4th quarter. Geode Capital Management LLC now owns 53,025 shares of the company’s stock valued at $99,000 after acquiring an additional 9,658 shares during the period. 33.42% of the stock is currently owned by hedge funds and other institutional investors.

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.