Short Interest in Arbe Robotics Ltd. (NASDAQ:ARBE) Drops By 9.0%

Arbe Robotics Ltd. (NASDAQ:ARBE) was the target of a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 549,500 shares, a decline of 9.0% from the June 30th total of 603,600 shares. Based on an average daily volume of 106,000 shares, the days-to-cover ratio is presently 5.2 days. Approximately 1.1% of the company’s stock are short sold.

Arbe Robotics Stock Down 3.6 %

Arbe Robotics stock traded down $0.08 during midday trading on Tuesday, hitting $2.17. 54,760 shares of the stock were exchanged, compared to its average volume of 118,122. Arbe Robotics has a 52-week low of $1.39 and a 52-week high of $3.13. The stock has a market capitalization of $169.74 million, a price-to-earnings ratio of -2.92 and a beta of -0.02. The business’s 50-day moving average price is $1.99 and its 200-day moving average price is $1.91.

Arbe Robotics (NASDAQ:ARBE) last released its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.07). Arbe Robotics had a negative return on equity of 70.80% and a negative net margin of 3,705.91%. The firm had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $0.30 million. On average, sell-side analysts predict that Arbe Robotics will post -0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Main Street Financial Solutions LLC purchased a new position in Arbe Robotics in the fourth quarter valued at about $41,000. PEAK6 Investments LLC purchased a new position in Arbe Robotics in the first quarter valued at about $319,000. Finally, M&G Plc purchased a new position in Arbe Robotics in the first quarter valued at about $7,439,000. 33.42% of the stock is currently owned by hedge funds and other institutional investors.

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.