Short Interest in Arrive AI Inc. (NASDAQ:ARAI) Declines By 38.0%

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on ARAI. Wall Street Zen cut Arrive AI from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Arrive AI in a research note on Friday, May 1st. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Arrive AI has an average rating of “Hold” and a consensus target price of $12.00.

Arrive AI Price Performance

ARAI stock opened at $0.55 on Thursday. The stock has a market capitalization of $28.26 million and a P/E ratio of -1.05. Arrive AI has a fifty-two week low of $0.51 and a fifty-two week high of $15.73. The business has a 50-day moving average of $0.76 and a 200-day moving average of $1.80.

Institutional Trading of Arrive AI

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC bought a new position in Arrive AI in the second quarter valued at $133,000. New York State Common Retirement Fund bought a new position in shares of Arrive AI in the 3rd quarter valued at about $45,000. Strs Ohio acquired a new stake in shares of Arrive AI in the fourth quarter valued at about $40,000. PharVision Advisers LLC bought a new stake in Arrive AI during the third quarter worth about $60,000. Finally, Two Sigma Investments LP acquired a new position in Arrive AI during the third quarter valued at approximately $106,000.

About Arrive AI

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.