Arrive AI Inc. (NASDAQ:ARAI) Short Interest Update

Arrive AI Inc. (NASDAQ:ARAI) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totaling 1,410,606 shares, a decrease of 38.0% from the April 30th total of 2,275,558 shares. Currently, 2.7% of the company’s stock are sold short. Based on an average daily volume of 1,459,555 shares, the days-to-cover ratio is currently 1.0 days.

Arrive AI Trading Down 6.1%

Arrive AI stock opened at $0.61 on Wednesday. The company has a market capitalization of $31.84 million and a P/E ratio of -1.18. Arrive AI has a 1-year low of $0.51 and a 1-year high of $15.73. The firm’s fifty day simple moving average is $0.77 and its 200-day simple moving average is $1.85.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in Arrive AI by 15.7% in the 4th quarter. Geode Capital Management LLC now owns 123,571 shares of the company’s stock worth $325,000 after acquiring an additional 16,804 shares during the period. Renaissance Technologies LLC acquired a new stake in Arrive AI in the 1st quarter worth $58,000. State Street Corp grew its position in Arrive AI by 193.6% in the 4th quarter. State Street Corp now owns 46,100 shares of the company’s stock worth $121,000 after purchasing an additional 30,400 shares during the last quarter. Two Sigma Investments LP acquired a new stake in Arrive AI in the 3rd quarter worth $106,000. Finally, PharVision Advisers LLC acquired a new stake in Arrive AI in the 3rd quarter worth $60,000.

Analysts Set New Price Targets

ARAI has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Arrive AI in a report on Friday, May 1st. Wall Street Zen lowered shares of Arrive AI from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Arrive AI has an average rating of “Hold” and an average target price of $12.00.

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.