ARK Investment Management LLC Reduces Stock Holdings in Arbe Robotics Ltd. (NASDAQ:ARBE)

ARK Investment Management LLC reduced its stake in shares of Arbe Robotics Ltd. (NASDAQ:ARBEGet Rating) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 258,122 shares of the company’s stock after selling 11,279 shares during the quarter. ARK Investment Management LLC owned 0.41% of Arbe Robotics worth $1,789,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. ETF Managers Group LLC acquired a new position in shares of Arbe Robotics in the 4th quarter valued at approximately $537,000. Credit Suisse AG acquired a new position in shares of Arbe Robotics in the 4th quarter valued at approximately $13,384,000. Finally, Saba Capital Management L.P. acquired a new position in shares of Arbe Robotics in the 1st quarter valued at approximately $322,000. 7.88% of the stock is currently owned by hedge funds and other institutional investors.

Arbe Robotics Price Performance

Shares of ARBE opened at $6.00 on Tuesday. The business’s 50 day moving average is $6.29 and its two-hundred day moving average is $6.49. Arbe Robotics Ltd. has a 52-week low of $4.83 and a 52-week high of $17.27. The firm has a market cap of $378.41 million, a price-to-earnings ratio of -3.12 and a beta of -0.33.

Arbe Robotics (NASDAQ:ARBEGet Rating) last announced its earnings results on Tuesday, August 16th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.18). Arbe Robotics had a negative return on equity of 150.93% and a negative net margin of 1,490.24%. The company had revenue of $1.24 million for the quarter, compared to analyst estimates of $1.20 million. On average, equities analysts expect that Arbe Robotics Ltd. will post -0.65 earnings per share for the current fiscal year.

Arbe Robotics Company Profile

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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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Institutional Ownership by Quarter for Arbe Robotics (NASDAQ:ARBE)

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