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

Wall Street Zen upgraded shares of Arrive AI (NASDAQ:ARAI) from a sell rating to a hold rating in a research note released on Saturday.

A number of other equities research analysts have also weighed in on ARAI. Weiss Ratings restated a “sell (e)” rating on shares of Arrive AI in a research report on Monday, December 29th. Maxim Group began coverage on Arrive AI in a research note on Tuesday, November 4th. They set a “buy” rating and a $12.00 price target on the stock. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Arrive AI presently has a consensus rating of “Hold” and a consensus price target of $12.00.

Arrive AI Price Performance

Shares of NASDAQ:ARAI opened at $2.83 on Friday. Arrive AI has a one year low of $2.52 and a one year high of $40.00. The company has a market cap of $96.81 million and a price-to-earnings ratio of -14.89. The firm has a 50 day simple moving average of $3.58 and a 200 day simple moving average of $5.43.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ARAI. Tower Research Capital LLC TRC bought a new stake in shares of Arrive AI in the 2nd quarter valued at $133,000. New York State Common Retirement Fund bought a new position in Arrive AI during the third quarter worth $45,000. PharVision Advisers LLC acquired a new position in Arrive AI in the third quarter valued at $60,000. Two Sigma Investments LP acquired a new position in Arrive AI in the third quarter valued at $106,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in Arrive AI during the second quarter valued at $543,000.

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.