Arrive AI (NASDAQ:ARAI) Shares Down 0.6% – Here’s Why

Arrive AI Inc. (NASDAQ:ARAI)’s share price traded down 0.6% on Tuesday . The stock traded as low as $1.66 and last traded at $1.69. 258,679 shares were traded during mid-day trading, a decline of 89% from the average session volume of 2,457,995 shares. The stock had previously closed at $1.70.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wall Street Zen upgraded Arrive AI from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings restated a “sell (e)” rating on shares of Arrive AI in a research report on Monday, December 29th. Finally, Maxim Group assumed coverage on Arrive AI in a research report on Tuesday, November 4th. They issued a “buy” rating and a $12.00 price objective for the company. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.00.

Arrive AI Trading Down 0.6%

The business has a fifty day moving average of $3.01 and a 200-day moving average of $4.48. The company has a market cap of $57.81 million and a PE ratio of -8.89.

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 during the quarter.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC bought a new position in Arrive AI in the 2nd quarter worth $793,000. Rockefeller Capital Management L.P. purchased a new position in shares of Arrive AI during the second quarter valued at about $607,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Arrive AI during the second quarter valued at about $543,000. Two Sigma Investments LP bought a new position in Arrive AI in the third quarter worth about $106,000. Finally, PharVision Advisers LLC purchased a new stake in Arrive AI in 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.