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

Arbe Robotics Ltd. (NASDAQ:ARBE) saw a significant decline in short interest in 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 days-to-cover ratio is currently 4.7 days. Currently, 1.4% of the company’s stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Arbe Robotics stock. Main Street Financial Solutions LLC acquired a new stake in shares of Arbe Robotics Ltd. (NASDAQ:ARBE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 19,012 shares of the company’s stock, valued at approximately $41,000. 33.42% of the stock is owned by institutional investors.

Arbe Robotics Stock Performance

Shares of NASDAQ:ARBE opened at $1.79 on Thursday. The stock has a fifty day simple moving average of $1.91 and a two-hundred day simple moving average of $1.94. The stock has a market capitalization of $140.02 million, a price-to-earnings ratio of -2.45 and a beta of -0.15. Arbe Robotics has a 12-month low of $1.40 and a 12-month high of $3.31.

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

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.