Arrive AI Inc. (NASDAQ:ARAI) Short Interest Up 121.7% in January

Arrive AI Inc. (NASDAQ:ARAI) was the recipient of a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 693,472 shares, a growth of 121.7% from the January 15th total of 312,790 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average daily volume of 4,435,655 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 4,435,655 shares, the days-to-cover ratio is currently 0.2 days. Approximately 2.0% of the shares of the company are short sold.

Institutional Trading of Arrive AI

A number of hedge funds have recently added to or reduced their stakes in ARAI. Rockefeller Capital Management L.P. acquired a new stake in Arrive AI during the second quarter valued at $607,000. Geode Capital Management LLC purchased a new stake in shares of Arrive AI during the 2nd quarter worth about $793,000. Tower Research Capital LLC TRC purchased a new stake in shares of Arrive AI during the 2nd quarter worth about $133,000. Two Sigma Investments LP acquired a new stake in shares of Arrive AI during the 3rd quarter valued at about $106,000. Finally, PharVision Advisers LLC purchased a new position in shares of Arrive AI in the 3rd quarter valued at about $60,000.

Wall Street Analysts Forecast Growth

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

Arrive AI Stock Down 6.3%

Shares of ARAI opened at $1.19 on Thursday. The company has a market capitalization of $40.71 million and a price-to-earnings ratio of -6.26. Arrive AI has a 52 week low of $1.14 and a 52 week high of $40.00. The stock’s 50-day moving average price is $2.71 and its 200-day moving average price is $4.14.

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

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.