Arrive AI Inc. (NASDAQ:ARAI) Sees Significant Decline in Short Interest

Arrive AI Inc. (NASDAQ:ARAI) was the recipient of a large drop in short interest during the month of December. As of December 15th, there was short interest totaling 275,998 shares, a drop of 23.3% from the November 30th total of 360,029 shares. Approximately 0.8% of the shares of the company are sold short. Based on an average trading volume of 79,905 shares, the days-to-cover ratio is presently 3.5 days. Based on an average trading volume of 79,905 shares, the days-to-cover ratio is presently 3.5 days. Approximately 0.8% of the shares of the company are sold short.

Arrive AI Trading Down 7.5%

Shares of NASDAQ ARAI opened at $2.98 on Tuesday. Arrive AI has a 12-month low of $2.93 and a 12-month high of $40.00. The firm has a market capitalization of $101.95 million and a price-to-earnings ratio of -15.68. The firm has a 50 day moving average of $4.00 and a 200 day moving average of $5.69.

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

Wall Street Analysts Forecast Growth

ARAI has been the subject of several research reports. Weiss Ratings reissued a “sell (e)” rating on shares of Arrive AI in a report on Monday, December 22nd. Wall Street Zen downgraded shares of Arrive AI from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, Maxim Group initiated coverage on shares of Arrive AI in a research note on Tuesday, November 4th. They set a “buy” rating and a $12.00 target price for the company. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.00.

Institutional Trading of Arrive AI

Several hedge funds have recently bought and sold shares of ARAI. Geode Capital Management LLC bought a new position in shares of Arrive AI in the second quarter worth about $793,000. Rockefeller Capital Management L.P. bought a new position in shares of Arrive AI during the 2nd quarter valued at approximately $607,000. OMERS ADMINISTRATION Corp purchased a new stake in Arrive AI in the 2nd quarter worth approximately $543,000. Two Sigma Investments LP purchased a new stake in Arrive AI in the 3rd quarter worth approximately $106,000. Finally, PharVision Advisers LLC bought a new stake in Arrive AI during the 3rd quarter worth approximately $60,000.

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.