Arrive AI (NASDAQ:ARAI) Announces Earnings Results

Arrive AI (NASDAQ:ARAI) issued its earnings results on Wednesday. The company reported ($0.06) earnings per share (EPS) for the quarter, Zacks reports.

Arrive AI Trading Down 36.3%

Shares of Arrive AI stock traded down $0.60 during trading on Wednesday, hitting $1.05. The stock had a trading volume of 17,257,057 shares, compared to its average volume of 8,096,089. The firm has a market cap of $38.30 million and a price-to-earnings ratio of -5.50. Arrive AI has a 12 month low of $0.51 and a 12 month high of $40.00. The business’s 50-day moving average is $1.03 and its 200 day moving average is $2.77.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ARAI. Weiss Ratings reissued a “sell (e)” rating on shares of Arrive AI in a report on Monday, December 29th. Wall Street Zen cut shares of Arrive AI from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARAI. Geode Capital Management LLC purchased a new position in Arrive AI in the second quarter worth $793,000. State Street Corp grew its position in Arrive AI by 193.6% in the fourth quarter. State Street Corp now owns 46,100 shares of the company’s stock worth $121,000 after acquiring an additional 30,400 shares in the last quarter. Two Sigma Investments LP purchased a new position in Arrive AI in the third quarter worth $106,000. PharVision Advisers LLC purchased a new position in Arrive AI in the third quarter worth $60,000. Finally, Tower Research Capital LLC TRC purchased a new position in Arrive AI in the second quarter worth $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.