Arrive AI Inc. (NASDAQ:ARAI) Short Interest Up 121.7% in January

Arrive AI Inc. (NASDAQ:ARAI) was the target of a significant growth in short interest in January. As of January 30th, there was short interest totaling 693,472 shares, a growth of 121.7% from the January 15th total of 312,790 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 4,435,655 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily trading volume, of 4,435,655 shares, the days-to-cover ratio is presently 0.2 days. Approximately 2.0% of the shares of the stock are sold short.

Institutional Investors Weigh In On Arrive AI

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC acquired a new position in Arrive AI during the second quarter worth $133,000. New York State Common Retirement Fund acquired a new stake in shares of Arrive AI during the 3rd quarter worth approximately $45,000. Strs Ohio purchased a new stake in shares of Arrive AI during the 4th quarter valued at approximately $40,000. PharVision Advisers LLC purchased a new stake in shares of Arrive AI during the 3rd quarter valued at approximately $60,000. Finally, Two Sigma Investments LP acquired a new position in Arrive AI in the third quarter valued at approximately $106,000.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ARAI shares. Weiss Ratings reiterated a “sell (e)” rating on shares of Arrive AI in a research report on Monday, December 29th. Maxim Group started coverage on shares of Arrive AI in a research report on Tuesday, November 4th. They set a “buy” rating and a $12.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Arrive AI from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.00.

Arrive AI Stock Down 6.3%

Shares of NASDAQ ARAI opened at $1.19 on Thursday. The firm has a 50-day simple moving average of $2.71 and a 200-day simple moving average of $4.14. The stock has a market capitalization of $40.71 million and a price-to-earnings ratio of -6.26. Arrive AI has a 52 week low of $1.14 and a 52 week high of $40.00.

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

Arrive AI Company Profile

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.