Arrive AI (NASDAQ:ARAI) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen cut shares of Arrive AI (NASDAQ:ARAI) from a hold rating to a sell rating in a research note released on Saturday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Arrive AI in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Arrive AI currently has a consensus rating of “Hold” and a consensus price target of $12.00.

Arrive AI Stock Down 6.2%

NASDAQ:ARAI opened at $0.67 on Friday. The stock’s 50 day moving average price is $0.85 and its 200 day moving average price is $2.18. The company has a market capitalization of $32.02 million and a PE ratio of -1.29. Arrive AI has a 52-week low of $0.51 and a 52-week high of $15.73.

Arrive AI (NASDAQ:ARAI) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter.

Institutional Trading of Arrive AI

A number of institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC purchased a new stake in shares of Arrive AI in the second quarter valued at approximately $133,000. New York State Common Retirement Fund purchased a new stake in shares of Arrive AI in the third quarter valued at approximately $45,000. Strs Ohio purchased a new stake in shares of Arrive AI in the fourth quarter valued at approximately $40,000. PharVision Advisers LLC purchased a new stake in shares of Arrive AI in the third quarter valued at approximately $60,000. Finally, Geode Capital Management LLC boosted its stake in shares of Arrive AI by 15.7% in the fourth quarter. Geode Capital Management LLC now owns 123,571 shares of the company’s stock valued at $325,000 after buying an additional 16,804 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.