Arrive AI Inc. (NASDAQ:ARAI) Sees Large Growth in Short Interest

Arrive AI Inc. (NASDAQ:ARAI) saw a significant growth in short interest in the month of October. As of October 30th, there was short interest totaling 1,569,478 shares, a growth of 270.7% from the October 15th total of 423,387 shares. Currently, 5.4% of the company’s stock are sold short. Based on an average daily trading volume, of 3,089,149 shares, the short-interest ratio is presently 0.5 days.

Arrive AI Stock Performance

Shares of ARAI traded down $0.86 during mid-day trading on Thursday, hitting $1.98. 397,987 shares of the company’s stock were exchanged, compared to its average volume of 104,065. The stock’s 50-day simple moving average is $0.17 and its 200-day simple moving average is $0.59. Arrive AI has a 52 week low of $1.85 and a 52 week high of $199.68. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.01. The firm has a market cap of $102.46 million, a price-to-earnings ratio of -3.04 and a beta of 4.58.

Arrive AI (NASDAQ:ARAI) last issued its earnings results on Thursday, August 13th. The company reported ($0.28) earnings per share for the quarter. The business had revenue of $0.01 million during the quarter. Arrive AI had a negative net margin of 50,198.12% and a negative return on equity of 346.39%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Arrive AI in a research note on Tuesday, October 27th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, Arrive AI presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Arrive AI

An institutional investor recently raised its position in Arrive AI stock. Cygnus Capital Advisors LLC increased its position in Arrive AI Inc. (NASDAQ:ARAI) by 351.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,288 shares of the company’s stock after buying an additional 91,288 shares during the period. Cygnus Capital Advisors LLC owned 0.23% of Arrive AI worth $50,000 at the end of the most recent reporting period.

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.