Arbe Robotics (NASDAQ:ARBE) Stock Rating Lowered by Zacks Investment Research

Arbe Robotics (NASDAQ:ARBEGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, Zacks.com reports.

According to Zacks, “Arbe Robotics Ltd. provides D Imaging Radar Chipset Solutions. The company is empowering automakers, tier-1 suppliers, autonomous ground vehicles, commercial and industrial vehicles and a wide array of safety applications with advanced sensing and paradigm-changing perception. Arbe Robotics Ltd., formerly known as Industrial Tech Acquisitions Inc., is based in Tel Aviv, Israel. “

Separately, Maxim Group initiated 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. One analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $16.00.

Shares of NASDAQ:ARBE traded up $0.23 during mid-day trading on Monday, reaching $7.57. 1,877 shares of the company’s stock were exchanged, compared to its average volume of 55,184. The firm’s fifty day simple moving average is $6.87. Arbe Robotics has a twelve month low of $5.22 and a twelve month high of $17.27.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC bought a new stake in Arbe Robotics in the fourth quarter valued at $38,000. Citigroup Inc. bought a new stake in Arbe Robotics in the fourth quarter valued at $66,000. Renaissance Technologies LLC bought a new stake in Arbe Robotics in the fourth quarter valued at $134,000. Geode Capital Management LLC bought a new stake in Arbe Robotics in the fourth quarter valued at $257,000. Finally, Vahanian & Associates Financial Planning Inc. bought a new stake in Arbe Robotics in the fourth quarter valued at $293,000. 9.36% of the stock is owned by institutional investors and hedge funds.

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.

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