Arrive AI Inc. (NASDAQ:ARAI) Short Interest Update

Arrive AI Inc. (NASDAQ:ARAI) was the recipient of a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 1,410,606 shares, a decline of 38.0% from the April 30th total of 2,275,558 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average trading volume of 1,459,555 shares, the short-interest ratio is currently 1.0 days.

Arrive AI Stock Down 6.1%

Shares of NASDAQ ARAI opened at $0.61 on Wednesday. The stock has a market capitalization of $31.84 million and a PE ratio of -1.18. Arrive AI has a 52-week low of $0.51 and a 52-week high of $15.73. The firm has a fifty day moving average of $0.77 and a 200-day moving average of $1.85.

Hedge Funds Weigh In On Arrive AI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARAI. Strs Ohio purchased a new position in Arrive AI in the 4th quarter valued at about $40,000. New York State Common Retirement Fund purchased a new position in Arrive AI in the 3rd quarter valued at about $45,000. Renaissance Technologies LLC purchased a new position in Arrive AI in the 1st quarter valued at about $58,000. PharVision Advisers LLC purchased a new position in Arrive AI in the 3rd quarter valued at about $60,000. Finally, Two Sigma Investments LP purchased a new position in Arrive AI in the 3rd quarter valued at about $106,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Arrive AI from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Arrive AI in a research note on Friday, May 1st. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Arrive AI presently has an average rating of “Hold” and a consensus target price of $12.00.

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.