Arrive AI Inc. (NASDAQ:ARAI) Stock Short Interest Report for September

Arrive AI Inc. (NASDAQ:ARAI) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 1,478,414 shares, a growth of 194.1% from the September 15th total of 502,685 shares. Currently, 5.4% of the shares of the company are sold short. Based on an average daily trading volume, of 1,340,936 shares, the days-to-cover ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Arrive AI in a report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.00.

Arrive AI Trading Down 4.6%

NASDAQ:ARAI opened at $0.14 on Wednesday. Arrive AI has a twelve month low of $0.13 and a twelve month high of $6.86. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.01. The firm’s fifty day simple moving average is $0.23 and its 200 day simple moving average is $0.46.

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

Hedge Funds Weigh In On Arrive AI

A hedge fund recently raised its position in Arrive AI stock. Cygnus Capital Advisors LLC grew its position in Arrive AI Inc. (NASDAQ:ARAI) by 351.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,288 shares of the company’s stock after purchasing an additional 91,288 shares during the quarter. Cygnus Capital Advisors LLC owned approximately 0.23% of Arrive AI worth $50,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

About Arrive AI

Arrive AI, Inc develops technology for autonomous last-mile delivery. Its platform is designed to connect delivery vehicles, packages and receiving locations, helping enable secure, unattended delivery for homes, businesses and other destinations.

The company’s offerings include Arrive Point, an intelligent mailbox or delivery receptacle intended to receive packages from autonomous vehicles and conventional delivery services. Arrive AI’s technology is aimed at supporting applications across residential delivery, retail, healthcare and other logistics settings where secure package handoff and access coordination are important.

Arrive AI was founded by Dan O’Toole, who serves as the company’s chief executive officer.