Arrive AI (NASDAQ:ARAI) Issues Earnings Results

Arrive AI (NASDAQ:ARAI) issued its quarterly earnings results on Friday. The company reported ($0.07) earnings per share (EPS) for the quarter, Zacks reports.

Arrive AI Price Performance

Shares of Arrive AI stock traded down $0.01 during trading on Friday, hitting $3.82. The company’s stock had a trading volume of 162,361 shares, compared to its average volume of 211,336. Arrive AI has a 52 week low of $3.03 and a 52 week high of $40.00. The business’s fifty day moving average price is $4.40.

Analyst Upgrades and Downgrades

ARAI has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Arrive AI in a report on Thursday. Maxim Group assumed coverage on Arrive AI in a report on Tuesday, November 4th. They set a “buy” rating and a $12.00 target price for the company. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $12.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC purchased a new position in Arrive AI during the second quarter valued at $793,000. Two Sigma Investments LP purchased a new position in shares of Arrive AI in the third quarter valued at about $106,000. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Arrive AI during the second quarter worth about $133,000.

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.