Arrive AI Stock Set to Reverse Split on Thursday, November 12th (NASDAQ:ARAI)

Arrive AI Inc. (NASDAQ:ARAI) shares are set to reverse split on the morning of Thursday, November 12th. The 1-48 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, November 11th.

Arrive AI Price Performance

Arrive AI stock traded up $0.01 during midday trading on Wednesday, hitting $0.06. The company’s stock had a trading volume of 58,191,121 shares, compared to its average volume of 4,928,701. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average price is $0.17 and its 200-day moving average price is $0.59. Arrive AI has a 12 month low of $0.05 and a 12 month high of $4.26. The company has a market capitalization of $3.06 million, a PE ratio of -0.09 and a beta of 4.58.

Arrive AI (NASDAQ:ARAI) last issued 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 business had revenue of $0.01 million during the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Arrive AI in a research report on Tuesday, October 27th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Arrive AI stock. Cygnus Capital Advisors LLC lifted its stake in Arrive AI Inc. (NASDAQ:ARAI) by 351.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 117,288 shares of the company’s stock after acquiring an additional 91,288 shares during the period. Cygnus Capital Advisors LLC owned 0.23% of Arrive AI worth $50,000 at the end of the most recent reporting period.

About Arrive AI

Arrive AI, Inc. is a technology company focused on improving last-mile delivery through autonomous delivery infrastructure. Its platform is designed to connect delivery providers, autonomous vehicles and recipients while reducing the need for attended handoffs. The company’s primary product is the Arrive Point, an intelligent, secure delivery mailbox intended for homes, businesses and other locations. The system is designed to receive packages from a range of delivery methods, including conventional carriers, autonomous vehicles and drones, and to provide secure access for recipients.