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

Arrive AI Inc. (NASDAQ:ARAI) was the recipient of a large decline in short interest in 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. Based on an average daily volume of 1,459,555 shares, the days-to-cover ratio is presently 1.0 days. Currently, 2.7% of the company’s stock are short sold.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen cut 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 report on Friday, May 1st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $12.00.

Hedge Funds Weigh In On Arrive AI

Institutional investors have recently bought and sold shares of the stock. Strs Ohio bought a new position in Arrive AI in the 4th quarter worth $40,000. New York State Common Retirement Fund bought a new position in Arrive AI in the 3rd quarter worth $45,000. Renaissance Technologies LLC bought a new position in Arrive AI in the 1st quarter worth $58,000. PharVision Advisers LLC bought a new position in Arrive AI in the 3rd quarter worth $60,000. Finally, Two Sigma Investments LP bought a new position in Arrive AI in the 3rd quarter worth $106,000.

Arrive AI Price Performance

NASDAQ:ARAI opened at $0.50 on Friday. Arrive AI has a one year low of $0.50 and a one year high of $15.73. The business has a fifty day moving average price of $0.76 and a 200-day moving average price of $1.78. The firm has a market capitalization of $26.04 million and a price-to-earnings ratio of -0.97.

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.