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

Arrive AI Inc. (NASDAQ:ARAI) was the recipient of a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 423,387 shares, a drop of 71.4% from the September 30th total of 1,478,414 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily volume of 21,378,661 shares, the short-interest ratio is presently 0.0 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Arrive AI in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Arrive AI has an average rating of “Hold” and a consensus price target of $12.00.

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 & Exchange Commission. The institutional investor owned 117,288 shares of the company’s stock after buying an additional 91,288 shares during the quarter. Cygnus Capital Advisors LLC owned 0.23% of Arrive AI worth $50,000 at the end of the most recent quarter.

Arrive AI Stock Down 1.7%

Shares of NASDAQ ARAI opened at $0.11 on Wednesday. Arrive AI has a 52 week low of $0.10 and a 52 week high of $5.35. The firm has a 50-day moving average price of $0.20 and a 200 day moving average price of $0.73. The stock has a market capitalization of $5.71 million, a price-to-earnings ratio of -0.17 and a beta of 4.24.

Arrive AI (NASDAQ:ARAI) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.28) EPS for the quarter. The company had revenue of $0.01 million for the quarter.

Arrive AI Company Profile

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.

Arrive AI is also developing a broader network and software platform to support autonomous deliveries and coordinate package drop-offs.