Arrive AI Inc. (NASDAQ:ARAI) Short Interest Down 39.2% in July

Arrive AI Inc. (NASDAQ:ARAI) was the recipient of a large decline in short interest in July. As of July 31st, there was short interest totaling 328,221 shares, a decline of 39.2% from the July 15th total of 540,090 shares. Based on an average daily trading volume, of 594,235 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.6% of the company’s stock are sold short.

Arrive AI Price Performance

ARAI opened at $0.25 on Thursday. The company has a 50-day moving average of $0.35 and a 200-day moving average of $0.71. The company has a market capitalization of $12.83 million, a P/E ratio of -0.38 and a beta of 4.31. Arrive AI has a 1-year low of $0.22 and a 1-year high of $6.86. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.91 and a current ratio of 0.92.

Arrive AI (NASDAQ:ARAI) last issued its earnings results on Thursday, August 13th. The company reported ($0.28) earnings per share (EPS) for the quarter. The company had revenue of $0.01 million during the quarter. Arrive AI had a negative net margin of 50,198.12% and a negative return on equity of 346.39%.

Analysts Set New Price Targets

ARAI has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Arrive AI in a research note on Wednesday, July 29th. Wall Street Zen cut Arrive AI from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. 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, the company has a consensus rating of “Hold” and an average target price of $12.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Arrive AI by 15.7% during the fourth quarter. Geode Capital Management LLC now owns 123,571 shares of the company’s stock worth $325,000 after purchasing an additional 16,804 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Arrive AI during the first quarter worth $58,000. State Street Corp raised its holdings in shares of Arrive AI by 193.6% during the fourth quarter. State Street Corp now owns 46,100 shares of the company’s stock worth $121,000 after purchasing an additional 30,400 shares during the period. Two Sigma Investments LP bought a new position in shares of Arrive AI in the 3rd quarter worth about $106,000. Finally, PharVision Advisers LLC bought a new position in shares of Arrive AI in the 3rd quarter worth about $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.