Arrive AI Inc. (NASDAQ:ARAI) Stock Short Interest Jumps 270.7%

Arrive AI Inc. (NASDAQ:ARAI) was the target of a large increase in short interest in October. As of October 30th, there was short interest totaling 1,569,478 shares, an increase of 270.7% from the October 15th total of 423,387 shares. Based on an average trading volume of 3,089,149 shares, the short-interest ratio is currently 0.5 days. Approximately 5.4% of the company’s stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Arrive AI stock. Renaissance Technologies LLC bought a new position in shares of Arrive AI Inc. (NASDAQ:ARAI) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 73,100 shares of the company’s stock, valued at approximately $58,000. Renaissance Technologies LLC owned 0.15% of Arrive AI at the end of the most recent quarter.

Analyst Ratings Changes

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

Arrive AI Price Performance

NASDAQ:ARAI traded down $0.86 during midday trading on Thursday, hitting $1.98. The company had a trading volume of 397,987 shares, compared to its average volume of 104,065. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $102.46 million, a PE ratio of -3.04 and a beta of 4.58. The stock’s fifty day moving average price is $0.17 and its 200-day moving average price is $0.59. Arrive AI has a 52-week low of $1.85 and a 52-week high of $199.68.

Arrive AI (NASDAQ:ARAI) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.28) earnings per share for the quarter. The firm 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%.

About Arrive AI

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.