Arbe Robotics (NASDAQ:ARBE) Shares Down 2.9% – Here’s What Happened

Arbe Robotics Ltd. (NASDAQ:ARBE) shares fell 2.9% during trading on Friday . The stock traded as low as $1.82 and last traded at $1.83. 37,378 shares changed hands during trading, a decline of 51% from the average session volume of 76,839 shares. The stock had previously closed at $1.89.

Arbe Robotics Stock Down 2.9 %

The stock has a market capitalization of $147.74 million, a PE ratio of -2.51 and a beta of -0.03. The company has a 50-day moving average of $1.96 and a 200 day moving average of $1.95.

Arbe Robotics (NASDAQ:ARBE) last issued its earnings results on Tuesday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. The company had revenue of $0.41 million during the quarter, compared to analysts’ expectations of $0.20 million. Arbe Robotics had a negative return on equity of 80.84% and a negative net margin of 3,318.73%. As a group, equities analysts predict that Arbe Robotics Ltd. will post -0.54 EPS for the current fiscal year.

Institutional Trading of Arbe Robotics

Large investors have recently added to or reduced their stakes in the stock. Ground Swell Capital LLC acquired a new position in shares of Arbe Robotics in the 2nd quarter valued at $34,000. PEAK6 Investments LLC acquired a new position in shares of Arbe Robotics in the 1st quarter valued at $319,000. Finally, M&G Plc acquired a new position in shares of Arbe Robotics in the 1st quarter valued at $7,439,000. 33.42% of the stock is currently owned by hedge funds and other institutional investors.

About Arbe Robotics

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.