In today’s recent session, 0.74 million shares of the Arbe Robotics Ltd (NASDAQ:ARBE) have been traded, and its beta is 0.26. Most recently the company’s share price was $1.32, and it changed around $0.02 or 1.42% from the last close, which brings the market valuation of the company to $125.78M. ARBE at last check was trading at a discount to its 52-week high of $5.09, offering almost -285.61% off that amount. The share price’s 52-week low was $1.12, which indicates that the recent value has risen by an impressive 15.15% since then. We note from Arbe Robotics Ltd’s average daily trading volume that its 10-day average is 3.03 million shares, with the 3-month average coming to 10.56 million.
Arbe Robotics Ltd stock received a consensus recommendation rating of Overweight, based on a mean score of 2.00. If we narrow it down even further, the data shows that 0 out of 3 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 1 recommended ARBE as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Arbe Robotics Ltd is expected to report earnings per share of 0.08 for the current quarter.
Arbe Robotics Ltd (NASDAQ:ARBE) trade information
Instantly ARBE has been showing a green trend so far today with a performance of 1.42% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 1.4850 on recent trading dayincreased the stock’s daily price by 11.11%. The company’s shares are currently down -29.11% year-to-date, but still up 3.82% over the last five days. On the other hand, Arbe Robotics Ltd (NASDAQ:ARBE) is -41.14% down in the 30-day period. We can see from the shorts that 5.88 million shares have been sold at a short interest cover period of 0.92 day(s).
Arbe Robotics Ltd (ARBE) estimates and forecasts
The year-over-year growth rate is expected to be 388.28%, up from the previous year. Consensus estimates provided by 2 financial analysts predict the company will bring in an average of 100k in revenue for the current quarter. 2 analysts expect Arbe Robotics Ltd to make 200k in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 137k and 409k respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -27.01%. Forecasts for the next quarter put sales growth at -51.10%.
Arbe Robotics Ltd (NASDAQ:ARBE)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 17.05% of Arbe Robotics Ltd shares, and 44.00% of them are in the hands of institutional investors. The stock currently has a share float of 53.04%. Arbe Robotics Ltd stock is held by 41.0 institutions, with AWM INVESTMENT COMPANY, INC. being the largest institutional investor. By 2024-06-30, it held 9.8664% of the shares, which is about 7.71 million shares worth $14.73 million.
M&G PLC, with 4.7577% or 3.72 million shares worth $7.44 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
Saba Capital Income & Opportunities Fund and Saba Capital Income & Opportunities Fund II were the top two Mutual Funds as of Oct 31, 2024. The former held 391.77 shares worth $0.52 million, making up 0.44% of all outstanding shares. On the other hand, Saba Capital Income & Opportunities Fund II held roughly 200.08 shares worth around $0.27 million, which represents about 0.22% of the total shares outstanding.
