Arrive AI (NASDAQ:ARAI) Stock Price Down 3.5% – Should You Sell?

Arrive AI Inc. (NASDAQ:ARAI)’s stock price dropped 3.5% during mid-day trading on Thursday . The stock traded as low as $3.06 and last traded at $3.07. Approximately 259,698 shares changed hands during mid-day trading, a decline of 5% from the average daily volume of 273,770 shares. The stock had previously closed at $3.18.

Analyst Ratings Changes

Separately, Wall Street Zen raised Arrive AI to a “hold” rating in a research report on Saturday, June 14th.

Arrive AI Trading Down 3.5%

The business has a 50 day moving average price of $6.54.

Arrive AI (NASDAQ:ARAI) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.05) EPS for the quarter. The business had revenue of $0.09 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC bought a new position in Arrive AI during the second quarter worth about $133,000. OMERS ADMINISTRATION Corp bought a new position in Arrive AI during the second quarter worth about $543,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Arrive AI during the second quarter worth approximately $607,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Arrive AI during the second quarter worth approximately $793,000.

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.