Arbe Robotics (NASDAQ:ARBE) Now Covered by Canaccord Genuity Group

Research analysts at Canaccord Genuity Group assumed coverage on shares of Arbe Robotics (NASDAQ:ARBE) in a research note issued on Tuesday,Benzinga reports. The firm set a “buy” rating and a $1.75 price target on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 69.90% from the company’s previous close.

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

Arbe Robotics Trading Down 4.6 %

Shares of ARBE opened at $1.03 on Tuesday. Arbe Robotics has a 12 month low of $0.97 and a 12 month high of $5.09. The stock’s 50-day moving average price is $2.01 and its two-hundred day moving average price is $2.02. The company has a market capitalization of $92.80 million, a PE ratio of -1.39 and a beta of 0.08.

Arbe Robotics (NASDAQ:ARBE) last announced its quarterly earnings data 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 net margin of 4,567.91% and a negative return on equity of 102.87%. The company had revenue of $0.10 million for the quarter, compared to analyst estimates of $0.40 million. During the same quarter in the prior year, the company posted ($0.07) EPS. Equities research analysts predict that Arbe Robotics will post -0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Walleye Capital LLC purchased a new stake in Arbe Robotics during the 4th quarter valued at about $25,000. Two Sigma Securities LLC bought a new position in Arbe Robotics in the 4th quarter valued at approximately $37,000. Wolverine Trading LLC bought a new position in shares of Arbe Robotics during the fourth quarter valued at $38,000. Jane Street Group LLC bought a new position in Arbe Robotics during the fourth quarter valued at approximately $48,000. Finally, Geode Capital Management LLC grew its holdings in shares of Arbe Robotics by 22.3% in the fourth quarter. Geode Capital Management LLC now owns 53,025 shares of the company’s stock worth $99,000 after acquiring an additional 9,658 shares during the period. Hedge funds and other 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.