Arrive AI Inc. (NASDAQ:ARAI) Sees Large Increase in Short Interest

Arrive AI Inc. (NASDAQ:ARAI) was the recipient of a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 598,669 shares, a growth of 22.8% from the February 12th total of 487,472 shares. Currently, 1.7% of the company’s stock are short sold. Based on an average daily trading volume, of 304,252 shares, the short-interest ratio is currently 2.0 days. Based on an average daily trading volume, of 304,252 shares, the short-interest ratio is currently 2.0 days. Currently, 1.7% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings restated a “sell (e)” rating on shares of Arrive AI in a research report on Monday, December 29th. Wall Street Zen cut shares of Arrive AI from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. 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 stock has a consensus rating of “Hold” and a consensus target price of $12.00.

Arrive AI Stock Performance

Shares of NASDAQ ARAI opened at $0.96 on Tuesday. The business has a 50 day simple moving average of $1.71 and a 200 day simple moving average of $3.21. Arrive AI has a 52 week low of $0.89 and a 52 week high of $40.00. The stock has a market cap of $32.88 million and a price-to-earnings ratio of -5.06.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio bought a new stake in Arrive AI in the fourth quarter worth $40,000. New York State Common Retirement Fund acquired a new stake in shares of Arrive AI in the third quarter worth about $45,000. PharVision Advisers LLC bought a new stake in shares of Arrive AI during the 3rd quarter worth about $60,000. Two Sigma Investments LP acquired a new position in shares of Arrive AI during the 3rd quarter valued at about $106,000. Finally, State Street Corp raised its stake in shares of Arrive AI by 193.6% in the 4th quarter. State Street Corp now owns 46,100 shares of the company’s stock valued at $121,000 after acquiring an additional 30,400 shares in the last quarter.

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.