Arrive AI Inc. (NASDAQ:ARAI) Stock Short Interest Rises 270.7%

Arrive AI Inc. (NASDAQ:ARAI) was the target of a large increase in short interest in the month of October. As of October 30th, there was short interest totaling 1,569,478 shares, an increase of 270.7% from the October 15th total of 423,387 shares. Approximately 5.4% of the shares of the stock are short sold. Based on an average trading volume of 3,089,149 shares, the short-interest ratio is presently 0.5 days.

Hedge Funds Weigh In On Arrive AI

An institutional investor recently raised its position in Arrive AI stock. Cygnus Capital Advisors LLC boosted its stake in Arrive AI Inc. (NASDAQ:ARAI) by 351.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,288 shares of the company’s stock after purchasing an additional 91,288 shares during the quarter. Cygnus Capital Advisors LLC owned about 0.23% of Arrive AI worth $50,000 at the end of the most recent reporting period.

Arrive AI Stock Up 2.9%

NASDAQ ARAI traded up $0.06 during trading on Friday, hitting $2.12. 3,077,353 shares of the company traded hands, compared to its average volume of 118,296. The business has a fifty day simple moving average of $8.02 and a 200 day simple moving average of $27.67. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.01. Arrive AI has a 12 month low of $1.73 and a 12 month high of $199.68. The company has a market capitalization of $109.99 million, a P/E ratio of -3.26 and a beta of 4.58.

Arrive AI (NASDAQ:ARAI) last released its quarterly earnings data on Friday, November 13th. The company reported ($3.37) EPS for the quarter. Arrive AI had a negative return on equity of 346.39% and a negative net margin of 50,198.12%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Arrive AI in a report on Tuesday, October 27th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

About Arrive AI

Arrive AI, Inc. is a technology company focused on improving last-mile delivery through autonomous delivery infrastructure. Its platform is designed to connect delivery providers, autonomous vehicles and recipients while reducing the need for attended handoffs. The company’s primary product is the Arrive Point, an intelligent, secure delivery mailbox intended for homes, businesses and other locations. The system is designed to receive packages from a range of delivery methods, including conventional carriers, autonomous vehicles and drones, and to provide secure access for recipients.