Arrive AI Inc. (NASDAQ:ARAI) Sees Large Growth in Short Interest

Arrive AI Inc. (NASDAQ:ARAI) saw a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 598,669 shares, a growth of 22.8% from the February 12th total of 487,472 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average daily volume of 304,252 shares, the short-interest ratio is currently 2.0 days. Based on an average daily volume of 304,252 shares, the short-interest ratio is currently 2.0 days. Currently, 1.7% of the shares of the company are sold short.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC acquired a new position in shares of Arrive AI in the second quarter valued at approximately $793,000. Rockefeller Capital Management L.P. acquired a new stake in Arrive AI during the 2nd quarter worth approximately $607,000. OMERS ADMINISTRATION Corp purchased a new position in Arrive AI in the 2nd quarter valued at approximately $543,000. Tower Research Capital LLC TRC purchased a new position in Arrive AI in the 2nd quarter valued at approximately $133,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Arrive AI in the third quarter worth $45,000.

Arrive AI Stock Performance

NASDAQ:ARAI opened at $1.01 on Wednesday. The stock has a market capitalization of $34.55 million and a P/E ratio of -5.32. The company has a 50 day moving average price of $1.67 and a 200 day moving average price of $3.18. Arrive AI has a fifty-two week low of $0.89 and a fifty-two week high of $40.00.

Analyst Ratings Changes

ARAI has been the topic of several analyst reports. Wall Street Zen downgraded Arrive AI from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Weiss Ratings reissued a “sell (e)” rating on shares of Arrive AI in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Arrive AI currently has an average rating of “Hold” and a consensus price target of $12.00.

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.