Arrive AI (NASDAQ:ARAI) Upgraded by Wall Street Zen to “Hold” Rating

Arrive AI (NASDAQ:ARAI) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (e)” rating on shares of Arrive AI in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.00.

Arrive AI Trading Down 10.2%

Shares of NASDAQ:ARAI opened at $0.93 on Friday. Arrive AI has a 1 year low of $0.51 and a 1 year high of $40.00. The business has a fifty day simple moving average of $1.00 and a 200 day simple moving average of $2.73. The firm has a market cap of $34.04 million and a price-to-earnings ratio of -2.28.

Hedge Funds Weigh In On Arrive AI

Hedge funds have recently bought and sold shares of the business. New York State Common Retirement Fund acquired a new position in Arrive AI during the third quarter worth $45,000. Geode Capital Management LLC acquired a new position in Arrive AI during the second quarter worth $793,000. Tower Research Capital LLC TRC acquired a new position in Arrive AI during the second quarter worth $133,000. State Street Corp increased its position 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 buying an additional 30,400 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new position in Arrive AI during the third quarter worth $106,000.

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.