Arrive AI Inc. (NASDAQ:ARAI) Sees Significant Increase in Short Interest

Arrive AI Inc. (NASDAQ:ARAI) was the recipient of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 728,037 shares, a growth of 121.8% from the July 30th total of 328,221 shares. Approximately 1.4% of the shares of the stock are sold short. Based on an average daily volume of 610,263 shares, the short-interest ratio is presently 1.2 days.

Arrive AI Stock Performance

Arrive AI stock opened at $0.23 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.91 and a current ratio of 0.92. The firm has a market cap of $11.68 million, a price-to-earnings ratio of -0.35 and a beta of 4.31. Arrive AI has a 1 year low of $0.22 and a 1 year high of $6.86. The firm’s 50 day moving average price is $0.32 and its two-hundred day moving average price is $0.65.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Arrive AI in a research report on Wednesday, July 29th. Wall Street Zen lowered Arrive AI from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Arrive AI presently has a consensus rating of “Hold” and an average price target of $12.00.

Hedge Funds Weigh In On Arrive AI

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new stake in shares of Arrive AI during the 1st quarter valued at $58,000. Geode Capital Management LLC purchased a new position in shares of Arrive AI during the 2nd quarter valued at $793,000. State Street Corp increased its stake in shares of Arrive AI by 193.6% in the fourth quarter. State Street Corp now owns 46,100 shares of the company’s stock worth $121,000 after acquiring an additional 30,400 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Arrive AI in the third quarter worth $106,000. Finally, PharVision Advisers LLC purchased a new stake in shares of Arrive AI during the third quarter worth $60,000.

About Arrive AI

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.