Arbe Robotics’ (ARBE) “Buy” Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Arbe Robotics (NASDAQ:ARBE) in a report published on Tuesday,Benzinga reports. The firm currently has a $1.75 price target on the stock.

ARBE has been the subject of several other reports. Weiss Ratings restated a “sell (e+)” rating on shares of Arbe Robotics in a report on Wednesday, October 8th. Roth Capital set a $2.00 target price on Arbe Robotics and gave the company a “buy” rating in a research report on Friday, August 8th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $2.25.

Arbe Robotics Stock Down 1.5%

Arbe Robotics stock opened at $1.28 on Tuesday. The firm has a market cap of $134.76 million, a price-to-earnings ratio of -2.72 and a beta of 0.49. The business’s 50-day moving average price is $1.84 and its 200 day moving average price is $1.62. Arbe Robotics has a 52 week low of $0.85 and a 52 week high of $5.09.

Institutional Investors Weigh In On Arbe Robotics

A number of large investors have recently added to or reduced their stakes in ARBE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Arbe Robotics by 187.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,849,154 shares of the company’s stock valued at $4,995,000 after acquiring an additional 3,162,282 shares during the period. Telemark Asset Management LLC bought a new stake in Arbe Robotics in the first quarter valued at about $1,390,000. Alyeska Investment Group L.P. grew its stake in shares of Arbe Robotics by 36.9% in the 3rd quarter. Alyeska Investment Group L.P. now owns 4,116,822 shares of the company’s stock valued at $6,793,000 after purchasing an additional 1,109,047 shares during the period. Ghisallo Capital Management LLC bought a new stake in Arbe Robotics in the first quarter valued at $258,000. Finally, Sender Co & Partners Inc. bought a new stake in shares of Arbe Robotics in the 2nd quarter worth about $154,000. 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.