Arbe Robotics (NASDAQ:ARBE) Stock Price Up 6.7%

Shares of Arbe Robotics Ltd. (NASDAQ:ARBEGet Rating) shot up 6.7% during mid-day trading on Tuesday . The company traded as high as $8.33 and last traded at $8.33. 885 shares were traded during mid-day trading, a decline of 98% from the average session volume of 53,566 shares. The stock had previously closed at $7.81.

A number of research firms have weighed in on ARBE. Zacks Investment Research cut shares of Arbe Robotics from a “hold” rating to a “sell” rating in a report on Monday. Maxim Group began coverage on shares of Arbe Robotics in a research note on Friday, February 4th. They issued a “buy” rating and a $14.00 price target on the stock. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $16.00.

The stock’s fifty day simple moving average is $6.84.

Several hedge funds have recently added to or reduced their stakes in the stock. ARK Investment Management LLC acquired a new stake in Arbe Robotics in the first quarter valued at $1,875,000. Wells Fargo & Company MN purchased a new stake in shares of Arbe Robotics in the 4th quarter worth about $1,621,000. NewEdge Advisors LLC purchased a new stake in shares of Arbe Robotics in the 4th quarter worth about $386,000. Penserra Capital Management LLC acquired a new stake in Arbe Robotics in the 4th quarter valued at about $38,000. Finally, Credit Suisse AG purchased a new position in Arbe Robotics during the 4th quarter valued at about $13,384,000. Hedge funds and other institutional investors own 9.36% of the company’s stock.

Arbe Robotics Company Profile (NASDAQ:ARBE)

Arbe Robotics Ltd. provides 4D imaging radar solutions in Israel and the United States. It offers 4D imaging radar chipset solutions that addresses the core issues that have caused the 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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