Arrive AI (NASDAQ:ARAI) Stock Price Up 6.4% – What’s Next?

Arrive AI Inc. (NASDAQ:ARAI) shares traded up 6.4% during trading on Friday . The company traded as high as $3.22 and last traded at $3.16. 143,709 shares were traded during mid-day trading, an increase of 72% from the average session volume of 83,597 shares. The stock had previously closed at $2.97.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ARAI. Wall Street Zen lowered Arrive AI from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Maxim Group initiated coverage on shares of Arrive AI in a research note on Tuesday, November 4th. They set a “buy” rating and a $12.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (e)” rating on shares of Arrive AI in a research note on Monday, December 15th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Arrive AI has an average rating of “Hold” and an average target price of $12.00.

Arrive AI Stock Up 6.4%

The firm’s 50-day moving average is $4.31. The stock has a market cap of $108.10 million and a price-to-earnings ratio of -16.63.

Arrive AI (NASDAQ:ARAI) last issued its earnings results on Friday, November 14th. The company reported ($0.07) EPS for the quarter. The business had revenue of $0.01 million for the quarter.

Hedge Funds Weigh In On Arrive AI

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC bought a new position in Arrive AI in the second quarter valued at approximately $793,000. Rockefeller Capital Management L.P. bought a new stake in Arrive AI in the 2nd quarter valued at $607,000. OMERS ADMINISTRATION Corp acquired a new position in Arrive AI in the 2nd quarter worth $543,000. Two Sigma Investments LP bought a new position in Arrive AI during the 3rd quarter worth about $106,000. Finally, PharVision Advisers LLC acquired a new stake in shares of Arrive AI in the 3rd quarter valued at 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.