Arrive AI Stock Set to Reverse Split on Thursday, November 12th (NASDAQ:ARAI)

Arrive AI Inc. (NASDAQ:ARAI)’s stock is going to reverse split on Thursday, November 12th. The 1-48 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, November 11th.

Arrive AI Stock Performance

Arrive AI stock traded up $0.01 during mid-day trading on Wednesday, reaching $0.06. The company’s stock had a trading volume of 58,191,121 shares, compared to its average volume of 4,928,701. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.01. Arrive AI has a twelve month low of $0.05 and a twelve month high of $4.26. The business has a 50 day moving average price of $0.17 and a 200-day moving average price of $0.59. The firm has a market cap of $3.06 million, a price-to-earnings ratio of -0.09 and a beta of 4.58.

Arrive AI (NASDAQ:ARAI) last released its earnings results on Thursday, August 13th. The company reported ($0.28) earnings per share for the quarter. The business had revenue of $0.01 million for the quarter. Arrive AI had a negative net margin of 50,198.12% and a negative return on equity of 346.39%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Arrive AI in a research report on Tuesday, October 27th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Trading of Arrive AI

A hedge fund recently raised its position in Arrive AI stock. Cygnus Capital Advisors LLC increased its position in Arrive AI Inc. (NASDAQ:ARAI) by 351.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,288 shares of the company’s stock after buying an additional 91,288 shares during the quarter. Cygnus Capital Advisors LLC owned about 0.23% of Arrive AI worth $50,000 at the end of the most recent reporting period.

Arrive AI Company Profile

Arrive AI, Inc. is a technology company focused on improving last-mile delivery through autonomous delivery infrastructure. Its platform is designed to connect delivery providers, autonomous vehicles and recipients while reducing the need for attended handoffs. The company’s primary product is the Arrive Point, an intelligent, secure delivery mailbox intended for homes, businesses and other locations. The system is designed to receive packages from a range of delivery methods, including conventional carriers, autonomous vehicles and drones, and to provide secure access for recipients.