Arbe Robotics Ltd. (NASDAQ:ARBE) Sees Significant Drop in Short Interest

Arbe Robotics Ltd. (NASDAQ:ARBE) was the target of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 661,200 shares, a decline of 6.2% from the March 31st total of 704,900 shares. Based on an average daily volume of 140,500 shares, the short-interest ratio is currently 4.7 days. Approximately 1.4% of the shares of the company are sold short.

Arbe Robotics Stock Performance

ARBE stock opened at $1.79 on Thursday. The stock’s fifty day simple moving average is $1.91 and its two-hundred day simple moving average is $1.94. Arbe Robotics has a 1-year low of $1.40 and a 1-year high of $3.31. The stock has a market cap of $140.02 million, a P/E ratio of -2.45 and a beta of -0.15.

Arbe Robotics (NASDAQ:ARBE) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.01. Arbe Robotics had a negative return on equity of 69.50% and a negative net margin of 2,959.18%. The business had revenue of $0.35 million for the quarter, compared to analysts’ expectations of $4.00 million. As a group, analysts forecast that Arbe Robotics will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Arbe Robotics stock. Y.D. More Investments Ltd purchased a new stake in shares of Arbe Robotics Ltd. (NASDAQ:ARBE) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,861,324 shares of the company’s stock, valued at approximately $4,337,000. Y.D. More Investments Ltd owned about 2.40% of Arbe Robotics at the end of the most recent reporting period. 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.