Arbe Robotics (NASDAQ:ARBE) Given New $9.00 Price Target at R. F. Lafferty

Arbe Robotics (NASDAQ:ARBEGet Rating) had its price objective lowered by R. F. Lafferty from $12.00 to $9.00 in a research note published on Monday morning, The Fly reports.

Arbe Robotics Stock Performance

ARBE stock opened at $4.15 on Monday. The firm has a fifty day moving average price of $5.18 and a 200 day moving average price of $5.82. Arbe Robotics has a fifty-two week low of $3.90 and a fifty-two week high of $12.38. The firm has a market cap of $261.74 million, a PE ratio of -5.68 and a beta of -0.19.

Institutional Trading of Arbe Robotics

Several institutional investors and hedge funds have recently made changes to their positions in ARBE. Saba Capital Management L.P. raised its holdings 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 worth $295,000 after purchasing an additional 14,555 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in Arbe Robotics in the second quarter valued at approximately $226,000. Finally, ETF Managers Group LLC lifted its holdings 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. 7.88% of the stock is currently owned by institutional investors.

About Arbe Robotics

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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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