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

Arrive AI Inc. (NASDAQ:ARAI) was the target of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 598,669 shares, an increase of 22.8% from the February 12th total of 487,472 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average daily trading volume, of 304,252 shares, the days-to-cover ratio is currently 2.0 days. Based on an average daily trading volume, of 304,252 shares, the days-to-cover ratio is currently 2.0 days. Approximately 1.7% of the company’s shares are sold short.

Arrive AI Trading Down 4.6%

ARAI stock opened at $0.95 on Monday. The firm has a market cap of $32.50 million and a PE ratio of -5.00. The stock has a 50-day moving average price of $1.75 and a 200-day moving average price of $3.24. Arrive AI has a 1-year low of $0.89 and a 1-year high of $40.00.

Hedge Funds Weigh In On Arrive AI

Several institutional investors have recently added to or reduced their stakes in ARAI. Rockefeller Capital Management L.P. acquired a new stake in shares of Arrive AI during the 2nd quarter worth approximately $607,000. Geode Capital Management LLC lifted its position in shares of Arrive AI by 15.7% during the 4th quarter. Geode Capital Management LLC now owns 123,571 shares of the company’s stock valued at $325,000 after acquiring an additional 16,804 shares during the period. Tower Research Capital LLC TRC acquired a new position in shares of Arrive AI during the 2nd quarter valued at $133,000. State Street Corp boosted its stake in Arrive AI by 193.6% during 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 in the last quarter. Finally, Two Sigma Investments LP bought a new position in Arrive AI during the third quarter worth $106,000.

Wall Street Analyst Weigh In

ARAI has been the topic of a number of research reports. Wall Street Zen lowered shares of Arrive AI from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Weiss Ratings restated a “sell (e)” rating on shares of Arrive AI in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Arrive AI currently has an average rating of “Hold” and a consensus target price of $12.00.

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.