Arrive AI (NASDAQ:ARAI) Shares Down 0.6% – Should You Sell?

Shares of Arrive AI Inc. (NASDAQ:ARAI) fell 0.6% on Tuesday . The company traded as low as $1.66 and last traded at $1.69. 258,679 shares changed hands during trading, a decline of 89% from the average session volume of 2,457,995 shares. The stock had previously closed at $1.70.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ARAI. 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. Weiss Ratings reiterated a “sell (e)” rating on shares of Arrive AI in a report on Monday, December 29th. Finally, Wall Street Zen raised Arrive AI from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Arrive AI has an average rating of “Hold” and an average target price of $12.00.

Arrive AI Stock Down 0.6%

The firm has a market capitalization of $57.81 million and a P/E ratio of -8.89. The company has a fifty day simple moving average of $3.01 and a 200 day simple moving average of $4.48.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio purchased a new stake in shares of Arrive AI during the fourth quarter valued at approximately $40,000. New York State Common Retirement Fund bought a new position in Arrive AI in the 3rd quarter valued at approximately $45,000. PharVision Advisers LLC bought a new stake in shares of Arrive AI in the 3rd quarter worth $60,000. Two Sigma Investments LP bought a new stake in shares of Arrive AI in the 3rd quarter worth $106,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Arrive AI in the second quarter worth $133,000.

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.