Arbe Robotics Ltd. (NASDAQ:ARBE – Get Rating) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 323,500 shares, a drop of 22.5% from the March 15th total of 417,300 shares. Based on an average daily trading volume, of 56,100 shares, the days-to-cover ratio is presently 5.8 days. Approximately 1.1% of the company’s shares are sold short.
Several brokerages have weighed in on ARBE. Maxim Group began coverage on shares of Arbe Robotics in a research note on Friday, February 4th. They set a “buy” rating and a $14.00 target price for the company. Zacks Investment Research lowered shares of Arbe Robotics from a “hold” rating to a “sell” rating in a research note on Monday, April 11th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, Arbe Robotics presently has a consensus rating of “Buy” and an average target price of $16.00.
NASDAQ ARBE opened at $7.59 on Monday. The company has a 50 day simple moving average of $6.84. Arbe Robotics has a one year low of $5.22 and a one year high of $17.27.
Institutional investors have recently modified their holdings of the stock. Penserra Capital Management LLC purchased a new position in Arbe Robotics in the fourth quarter worth approximately $38,000. Citigroup Inc. purchased a new position in Arbe Robotics in the fourth quarter worth approximately $66,000. Renaissance Technologies LLC purchased a new position in Arbe Robotics in the fourth quarter worth approximately $134,000. Geode Capital Management LLC purchased a new position in Arbe Robotics in the fourth quarter worth approximately $257,000. Finally, Vahanian & Associates Financial Planning Inc. purchased a new position in Arbe Robotics in the fourth quarter worth approximately $293,000. Institutional investors own 9.36% of the company’s stock.
Arbe Robotics Company Profile (Get Rating)
Arbe Robotics Ltd. provides 4D imaging radar solutions in Israel and the United States. It offers 4D imaging radar chipset solutions that addresses the core issues that have caused the autonomous vehicle and autopilot accidents, such as detecting stationary objects, identifying vulnerable road users, and eliminating false alarms without radar ambiguities.
Featured Stories
Receive News & Ratings for Arbe Robotics Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Arbe Robotics and related companies with MarketBeat.com’s FREE daily email newsletter.
Credit: Source link
