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

Arrive AI Inc. (NASDAQ:ARAI) was the target of a significant decrease in short interest in December. As of December 15th, there was short interest totaling 275,998 shares, a decrease of 23.3% from the November 30th total of 360,029 shares. Currently, 0.8% of the company’s stock are short sold. Based on an average daily volume of 79,905 shares, the days-to-cover ratio is presently 3.5 days. Based on an average daily volume of 79,905 shares, the days-to-cover ratio is presently 3.5 days. Currently, 0.8% of the company’s stock are short sold.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Arrive AI in a research report on Monday, December 22nd. Wall Street Zen lowered shares of Arrive AI from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Maxim Group started coverage on shares of Arrive AI in a research note on Tuesday, November 4th. They set a “buy” rating and a $12.00 target price for the company. One investment 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 stock presently has a consensus rating of “Hold” and an average price target of $12.00.

Hedge Funds Weigh In On Arrive AI

A number of hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new stake in Arrive AI during the 2nd quarter valued at $133,000. New York State Common Retirement Fund bought a new position in shares of Arrive AI during the third quarter valued at $45,000. PharVision Advisers LLC bought a new position in shares of Arrive AI during the third quarter valued at $60,000. Two Sigma Investments LP purchased a new stake in shares of Arrive AI during the third quarter valued at $106,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in Arrive AI in the 2nd quarter worth about $543,000.

Arrive AI Price Performance

Shares of Arrive AI stock opened at $2.98 on Tuesday. The stock has a market cap of $101.95 million and a price-to-earnings ratio of -15.68. The firm’s 50-day moving average is $4.00 and its 200 day moving average is $5.69. Arrive AI has a 1 year low of $2.93 and a 1 year high of $40.00.

Arrive AI (NASDAQ:ARAI) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.07) earnings per share for the quarter. The business had revenue of $0.01 million for the quarter.

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.