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

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

Analyst Upgrades and Downgrades

ARAI has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Arrive AI in a research report on Wednesday, July 29th. Wall Street Zen cut shares of Arrive AI from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.00.

Hedge Funds Weigh In On Arrive AI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new stake in shares of Arrive AI in the 1st quarter valued at about $58,000. Geode Capital Management LLC acquired a new position in shares of Arrive AI during the second quarter worth about $793,000. State Street Corp boosted its position 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 buying an additional 30,400 shares during the period. Two Sigma Investments LP bought a new position in shares of Arrive AI during the third quarter worth about $106,000. Finally, PharVision Advisers LLC bought a new position in shares of Arrive AI during the third quarter worth about $60,000.

Arrive AI Stock Performance

Shares of ARAI stock opened at $0.25 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.91 and a current ratio of 0.92. The company has a market capitalization of $12.99 million, a P/E ratio of -0.39 and a beta of 4.31. The company’s 50 day moving average price is $0.36 and its two-hundred day moving average price is $0.73. Arrive AI has a 52 week low of $0.22 and a 52 week high of $6.86.

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

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.