Arrive AI (NASDAQ:ARAI) Issues Quarterly Earnings Results

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

Arrive AI Stock Down 36.3%

Shares of NASDAQ ARAI traded down $0.60 on Wednesday, reaching $1.05. 17,257,057 shares of the company’s stock traded hands, compared to its average volume of 8,096,089. The business’s 50 day simple moving average is $1.03 and its two-hundred day simple moving average is $2.77. Arrive AI has a 12 month low of $0.51 and a 12 month high of $40.00. The company has a market cap of $38.30 million and a price-to-earnings ratio of -5.50.

Analysts Set New Price Targets

Several research firms have issued reports on ARAI. Weiss Ratings restated a “sell (e)” rating on shares of Arrive AI in a research report on Monday, December 29th. Wall Street Zen lowered shares of Arrive AI from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.00.

Institutional Investors Weigh In On Arrive AI

A number of institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Arrive AI by 15.7% during the fourth quarter. Geode Capital Management LLC now owns 123,571 shares of the company’s stock valued at $325,000 after buying an additional 16,804 shares during the last quarter. State Street Corp grew its holdings in shares of Arrive AI by 193.6% during the fourth quarter. State Street Corp now owns 46,100 shares of the company’s stock valued at $121,000 after buying an additional 30,400 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of Arrive AI during the third quarter valued at approximately $106,000. PharVision Advisers LLC purchased a new stake in shares of Arrive AI during the third quarter valued at approximately $60,000. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Arrive AI during the second quarter valued at approximately $133,000.

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.