Arrive AI Inc. (NASDAQ:ARAI – Get Free Report) was the target of a large drop in short interest during 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. Based on an average trading volume of 21,378,661 shares, the days-to-cover ratio is presently 0.0 days. Currently, 1.6% of the shares of the company are short sold.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Arrive AI in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $12.00.
View Our Latest Research Report on Arrive AI
Institutional Inflows and Outflows
An institutional investor recently raised its stake in Arrive AI stock. Cygnus Capital Advisors LLC increased its holdings in Arrive AI Inc. (NASDAQ:ARAI – Free Report) by 351.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,288 shares of the company’s stock after acquiring an additional 91,288 shares during the period. Cygnus Capital Advisors LLC owned about 0.23% of Arrive AI worth $50,000 at the end of the most recent reporting period.
Arrive AI Trading Down 10.2%
ARAI stock traded down $0.01 during midday trading on Friday, hitting $0.11. 991,303 shares of the company’s stock were exchanged, compared to its average volume of 4,728,195. Arrive AI has a 1-year low of $0.10 and a 1-year high of $5.30. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $0.20 and a two-hundred day simple moving average of $0.70. The stock has a market capitalization of $5.65 million, a PE ratio of -0.17 and a beta of 4.24.
Arrive AI (NASDAQ:ARAI – Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.28) EPS for the quarter. Arrive AI had a negative return on equity of 346.39% and a negative net margin of 50,198.12%. The firm 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.
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