DnB Asset Management AS Has $241,000 Stake in Arbe Robotics Ltd. (NASDAQ:ARBE)

DnB Asset Management AS grew its holdings in Arbe Robotics Ltd. (NASDAQ:ARBE) by 26.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 129,742 shares of the company’s stock after purchasing an additional 27,531 shares during the quarter. DnB Asset Management AS’s holdings in Arbe Robotics were worth $241,000 as of its most recent filing with the SEC.

Arbe Robotics Stock Up 1.9 %

Shares of ARBE opened at $1.06 on Thursday. The stock’s fifty day simple moving average is $1.93 and its 200-day simple moving average is $2.00. The firm has a market capitalization of $95.50 million, a PE ratio of -1.43 and a beta of 0.08. Arbe Robotics Ltd. has a 12-month low of $0.97 and a 12-month high of $5.09.

Arbe Robotics (NASDAQ:ARBE) last issued its earnings results on Wednesday, March 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The business had revenue of $0.10 million during the quarter, compared to the consensus estimate of $0.40 million. Arbe Robotics had a negative net margin of 4,567.91% and a negative return on equity of 102.87%. During the same period last year, the business posted ($0.07) EPS. Analysts anticipate that Arbe Robotics Ltd. will post -0.58 EPS for the current year.

Analysts Set New Price Targets

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

Arbe Robotics Company Profile

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.