Short Interest in Arbe Robotics Ltd. (NASDAQ:ARBE) Rises By 36.7%

Arbe Robotics Ltd. (NASDAQ:ARBE) was the recipient of a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 6,288,531 shares, a growth of 36.7% from the February 12th total of 4,601,350 shares. Currently, 5.8% of the shares of the company are sold short. Based on an average daily trading volume, of 2,887,216 shares, the days-to-cover ratio is currently 2.2 days. Based on an average daily trading volume, of 2,887,216 shares, the days-to-cover ratio is currently 2.2 days. Currently, 5.8% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Canaccord Genuity Group dropped their price target on Arbe Robotics from $1.75 to $1.25 and set a “buy” rating on the stock in a research report on Friday, February 27th. Westpark Capital assumed coverage on shares of Arbe Robotics in a research note on Thursday, January 8th. They issued a “buy” rating and a $3.50 price objective on the stock. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2.25.

Arbe Robotics Trading Down 2.8%

ARBE opened at $0.76 on Friday. The stock’s 50 day simple moving average is $1.13 and its 200-day simple moving average is $1.42. The stock has a market cap of $82.74 million, a PE ratio of -1.85 and a beta of 0.59. Arbe Robotics has a 1 year low of $0.76 and a 1 year high of $2.88.

Institutional Investors Weigh In On Arbe Robotics

Several institutional investors and hedge funds have recently bought and sold shares of ARBE. Quadrature Capital Ltd bought a new position in shares of Arbe Robotics during the 2nd quarter worth about $29,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Arbe Robotics during the 3rd quarter valued at about $30,000. Ashton Thomas Private Wealth LLC increased its stake in Arbe Robotics by 200.0% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 30,000 shares of the company’s stock valued at $35,000 after acquiring an additional 20,000 shares during the period. Invesco Ltd. bought a new stake in Arbe Robotics in the second quarter valued at about $41,000. Finally, Goldman Sachs Group Inc. acquired a new position in Arbe Robotics in the fourth quarter worth about $46,000. Institutional investors own 33.42% of the company’s stock.

About Arbe Robotics

Arbe Robotics Ltd. is a technology company specializing in high-resolution 4D imaging radar solutions for the automotive industry. The company’s radar platform is designed to enhance advanced driver-assistance systems (ADAS) and support the development of autonomous vehicles by providing detailed object detection, precise range and velocity measurements, and accurate environmental mapping under diverse driving conditions.

Founded in 2015 and headquartered in Tel Aviv, Israel, Arbe Robotics has developed its own semiconductor chipset and accompanying software stack.