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

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on ARAI shares. Wall Street Zen downgraded shares of Arrive AI from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Arrive AI in a report on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.00.

Arrive AI Stock Down 1.8%

ARAI stock opened at $0.25 on Tuesday. The company has a market cap of $12.86 million, a PE ratio of -0.38 and a beta of 4.31. The business has a 50-day simple moving average of $0.36 and a 200 day simple moving average of $0.74. Arrive AI has a 52 week low of $0.22 and a 52 week high of $6.86. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.01.

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

Institutional Trading of Arrive AI

Several large investors have recently made changes to their positions in the company. Strs Ohio bought a new position in Arrive AI in the fourth quarter valued at approximately $40,000. Renaissance Technologies LLC acquired a new position in Arrive AI during the first quarter valued at approximately $58,000. PharVision Advisers LLC bought a new stake in Arrive AI during the third quarter worth $60,000. Two Sigma Investments LP acquired a new stake in shares of Arrive AI in the 3rd quarter valued at $106,000. Finally, State Street Corp boosted its holdings in shares of Arrive AI by 193.6% in the 4th quarter. State Street Corp now owns 46,100 shares of the company’s stock valued at $121,000 after purchasing an additional 30,400 shares in the last 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.