Arbe Robotics (NASDAQ:ARBE) Price Target Cut to $3.00 by Analysts at Maxim Group

Arbe Robotics (NASDAQ:ARBE) had its target price lowered by Maxim Group from $4.00 to $3.00 in a note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage presently has a “buy” rating on the stock. Maxim Group’s target price would indicate a potential upside of 68.54% from the company’s previous close.

Arbe Robotics Stock Performance

NASDAQ ARBE opened at $1.78 on Friday. The stock has a 50-day simple moving average of $1.87 and a 200 day simple moving average of $1.94. Arbe Robotics has a twelve month low of $1.40 and a twelve month high of $2.57. The stock has a market capitalization of $143.70 million, a PE ratio of -2.41 and a beta of -0.03.

Institutional Investors Weigh In On Arbe Robotics

An institutional investor recently bought a new position in Arbe Robotics stock. Ground Swell Capital LLC purchased a new stake in Arbe Robotics Ltd. (NASDAQ:ARBE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,700 shares of the company’s stock, valued at approximately $34,000. Institutional investors own 33.42% of the company’s stock.

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.