Arrive AI Inc. (NASDAQ:ARAI) Sees Large Decrease in Short Interest

Arrive AI Inc. (NASDAQ:ARAI) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totaling 328,221 shares, a drop of 39.2% from the July 15th total of 540,090 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 594,235 shares, the days-to-cover ratio is presently 0.6 days.

Wall Street Analysts Forecast Growth

ARAI has been the subject of several research analyst reports. Wall Street Zen downgraded Arrive AI from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Arrive AI in a report on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.00.

Arrive AI Stock Down 1.8%

NASDAQ:ARAI opened at $0.25 on Tuesday. The firm’s 50 day simple moving average is $0.36 and its 200 day simple moving average is $0.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.92 and a quick ratio of 0.91. Arrive AI has a one year low of $0.22 and a one year high of $6.86. The company has a market cap of $12.86 million, a PE ratio of -0.38 and a beta of 4.31.

Arrive AI (NASDAQ:ARAI) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.28) earnings per share (EPS) for the quarter. The business had revenue of $0.01 million during the quarter. Arrive AI had a negative net margin of 50,198.12% and a negative return on equity of 346.39%.

Institutional Trading of Arrive AI

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in Arrive AI by 15.7% during the 4th quarter. Geode Capital Management LLC now owns 123,571 shares of the company’s stock worth $325,000 after purchasing an additional 16,804 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Arrive AI in the 1st quarter valued at about $58,000. State Street Corp grew its position in shares of Arrive AI by 193.6% in the 4th quarter. State Street Corp now owns 46,100 shares of the company’s stock valued at $121,000 after buying an additional 30,400 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of Arrive AI in the third quarter valued at about $106,000. Finally, PharVision Advisers LLC bought a new position in shares of Arrive AI during the third quarter worth about $60,000.

Arrive AI Company Profile

We were incorporated on April 30, 2020, in the State of Delaware under the name of Dronedek Corporation. The Company changed its name to Arrive Technology Inc on July 27, 2023. The Company changed its name to Arrive AI Inc on September 30, 2024. We are a developmental technology company with a focus on designing and implementing a commercially viable smart mailbox and platform system for smart, secure, and seamless exchange of packages, goods, supplies, food, and medications between people, through the use of robots, and drones.