Short Interest in Arrive AI Inc. (NASDAQ:ARAI) Declines By 23.3%

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

Arrive AI Stock Performance

Shares of NASDAQ ARAI opened at $2.76 on Wednesday. Arrive AI has a 52-week low of $2.76 and a 52-week high of $40.00. The stock has a market cap of $94.42 million and a P/E ratio of -14.53. The firm has a 50 day moving average price of $3.94 and a two-hundred day moving average price of $5.67.

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

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wall Street Zen lowered Arrive AI from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Arrive AI in a report on Monday. Finally, Maxim Group began coverage on Arrive AI in a research note on Tuesday, November 4th. They issued a “buy” rating and a $12.00 price target for the company. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.00.

Institutional Trading of Arrive AI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARAI. Geode Capital Management LLC bought a new position in Arrive AI during the 2nd quarter worth approximately $793,000. Rockefeller Capital Management L.P. purchased a new position in Arrive AI during the second quarter worth about $607,000. OMERS ADMINISTRATION Corp purchased a new position in Arrive AI during the second quarter worth about $543,000. Two Sigma Investments LP bought a new stake in Arrive AI in the 3rd quarter worth about $106,000. Finally, PharVision Advisers LLC purchased a new stake in Arrive AI in the 3rd quarter valued at 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.