DnB Asset Management AS Buys 27,531 Shares of Arbe Robotics Ltd. (NASDAQ:ARBE)

DnB Asset Management AS lifted its stake in Arbe Robotics Ltd. (NASDAQ:ARBE) by 26.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 129,742 shares of the company’s stock after buying an additional 27,531 shares during the period. DnB Asset Management AS owned about 0.14% of Arbe Robotics worth $241,000 at the end of the most recent reporting period.

Analysts Set New Price Targets

A number of analysts have commented on ARBE shares. Canaccord Genuity Group assumed coverage on Arbe Robotics in a research report on Tuesday. They issued a “buy” rating and a $1.75 price objective for the company. Maxim Group downgraded shares of Arbe Robotics from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th.

Arbe Robotics Trading Up 1.9 %

NASDAQ ARBE opened at $1.06 on Thursday. Arbe Robotics Ltd. has a 1-year low of $0.97 and a 1-year high of $5.09. The stock’s 50 day moving average is $1.93 and its two-hundred day moving average is $2.00. The company has a market capitalization of $95.50 million, a price-to-earnings ratio of -1.43 and a beta of 0.08.

Arbe Robotics (NASDAQ:ARBE) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Arbe Robotics had a negative net margin of 4,567.91% and a negative return on equity of 102.87%. The company had revenue of $0.10 million during the quarter, compared to the consensus estimate of $0.40 million. During the same quarter last year, the company earned ($0.07) earnings per share. On average, analysts predict that Arbe Robotics Ltd. will post -0.58 earnings per share 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.