Arbe Robotics (NASDAQ:ARBE) Coverage Initiated by Analysts at Canaccord Genuity Group

Canaccord Genuity Group initiated coverage on shares of Arbe Robotics (NASDAQ:ARBE) in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating and a $1.75 price target on the stock.

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

Arbe Robotics Trading Up 1.0 %

Shares of ARBE stock opened at $1.04 on Tuesday. Arbe Robotics has a 12-month low of $0.97 and a 12-month high of $5.09. The business’s fifty day simple moving average is $1.97 and its 200-day simple moving average is $2.01. The company has a market cap of $93.70 million, a PE ratio of -1.41 and a beta of 0.08.

Arbe Robotics (NASDAQ:ARBE) last announced its earnings results on Wednesday, March 5th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Arbe Robotics had a negative return on equity of 102.87% and a negative net margin of 4,567.91%. The business had revenue of $0.10 million for the quarter, compared to analysts’ expectations of $0.40 million. During the same quarter last year, the firm earned ($0.07) earnings per share. On average, equities analysts forecast that Arbe Robotics will post -0.58 earnings per share for the current year.

Hedge Funds Weigh In On Arbe Robotics

Hedge funds have recently made changes to their positions in the company. Walleye Capital LLC purchased a new stake in Arbe Robotics during the 4th quarter valued at about $25,000. Two Sigma Securities LLC acquired a new stake in shares of Arbe Robotics during the fourth quarter worth about $37,000. Wolverine Trading LLC acquired a new stake in shares of Arbe Robotics during the fourth quarter worth about $38,000. Jane Street Group LLC purchased a new stake in Arbe Robotics in the fourth quarter valued at approximately $48,000. Finally, Geode Capital Management LLC increased its holdings in Arbe Robotics by 22.3% in the 4th quarter. Geode Capital Management LLC now owns 53,025 shares of the company’s stock worth $99,000 after buying an additional 9,658 shares during the period. 33.42% of the stock is owned by institutional investors and hedge funds.

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.