Arrive AI Inc. (NASDAQ:ARAI) Short Interest Down 29.7% in February

Arrive AI Inc. (NASDAQ:ARAI) was the target of a large drop in short interest during the month of February. As of February 13th, there was short interest totaling 487,472 shares, a drop of 29.7% from the January 29th total of 693,472 shares. Based on an average trading volume of 528,521 shares, the days-to-cover ratio is currently 0.9 days. Approximately 1.4% of the company’s shares are short sold. Approximately 1.4% of the company’s shares are short sold. Based on an average trading volume of 528,521 shares, the days-to-cover ratio is currently 0.9 days.

Arrive AI Trading Down 5.2%

Arrive AI stock opened at $1.10 on Friday. The firm has a market capitalization of $37.63 million and a P/E ratio of -5.79. Arrive AI has a twelve month low of $1.03 and a twelve month high of $40.00. The stock’s fifty day simple moving average is $2.14 and its 200-day simple moving average is $3.59.

Analyst Ratings Changes

Several brokerages recently weighed in on ARAI. Weiss Ratings reiterated a “sell (e)” rating on shares of Arrive AI in a research report on Monday, December 29th. Maxim Group started coverage on Arrive AI in a research note on Tuesday, November 4th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, Wall Street Zen raised Arrive AI from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.00.

Institutional Investors Weigh In On Arrive AI

Several institutional investors have recently added to or reduced their stakes in ARAI. Geode Capital Management LLC acquired a new stake in Arrive AI during the second quarter worth approximately $793,000. Rockefeller Capital Management L.P. purchased a new position in shares of Arrive AI in the 2nd quarter valued at $607,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Arrive AI in the 2nd quarter valued at $543,000. Tower Research Capital LLC TRC purchased a new position in Arrive AI during the 2nd quarter worth approximately $133,000. Finally, New York State Common Retirement Fund purchased a new position in Arrive AI during the 3rd quarter worth $45,000.

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.