Arbe Robotics Ltd. (NASDAQ:ARBE – Get Rating) fell 0.6% during trading on Monday . The company traded as low as $3.25 and last traded at $3.28. 35,372 shares changed hands during mid-day trading, an increase of 9% from the average session volume of 32,568 shares. The stock had previously closed at $3.30.
Analyst Upgrades and Downgrades
Separately, R. F. Lafferty dropped their price objective on Arbe Robotics from $12.00 to $9.00 in a report on Monday, November 21st.
Get Arbe Robotics alerts:Arbe Robotics Stock Down 0.6 %
The business has a fifty day moving average of $4.56 and a 200 day moving average of $5.59. The firm has a market cap of $206.86 million, a P/E ratio of -4.49 and a beta of -0.29.
Institutional Investors Weigh In On Arbe Robotics
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARBE. ETF Managers Group LLC grew its stake in Arbe Robotics by 8.2% in the third quarter. ETF Managers Group LLC now owns 35,746 shares of the company's stock valued at $214,000 after acquiring an additional 2,696 shares during the period. NewEdge Advisors LLC acquired a new position in Arbe Robotics in the second quarter valued at about $226,000. Finally, Saba Capital Management L.P. grew its stake in Arbe Robotics by 42.0% in the third quarter. Saba Capital Management L.P. now owns 49,240 shares of the company's stock valued at $295,000 after acquiring an additional 14,555 shares during the period. Institutional investors own 7.88% of the company's stock.Arbe Robotics Company Profile
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Arbe Robotics Ltd., a semiconductor company, provides 4D imaging radar solutions for tier 1 automotive suppliers and automotive manufacturers in Israel and the United States. 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, and eliminating false alarms without radar ambiguities.
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