Maxim Group Initiates Coverage on Arrive AI (NASDAQ:ARAI)

Stock analysts at Maxim Group started coverage on shares of Arrive AI (NASDAQ:ARAI) in a note issued to investors on Tuesday. The firm set a “buy” rating and a $12.00 price target on the stock. Maxim Group’s price objective would indicate a potential upside of 153.16% from the stock’s current price.

Separately, Weiss Ratings reiterated a “sell (e-)” rating on shares of Arrive AI in a report on Wednesday, October 8th. One equities 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, the company currently has an average rating of “Hold” and a consensus target price of $12.00.

Arrive AI Stock Performance

Shares of Arrive AI stock opened at $4.74 on Tuesday. The stock’s 50 day moving average price is $4.47. Arrive AI has a 1-year low of $3.03 and a 1-year high of $40.00. The company has a market cap of $156.54 million and a P/E ratio of -39.50.

Arrive AI (NASDAQ:ARAI) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.05) earnings per share (EPS) for the quarter. The firm had revenue of $0.09 million for the quarter.

Hedge Funds Weigh In On Arrive AI

A number of institutional investors have recently made changes to their positions in the stock. New York State Common Retirement Fund bought a new stake in shares of Arrive AI in the 3rd quarter worth approximately $45,000. Tower Research Capital LLC TRC purchased a new position in Arrive AI during the second quarter worth $133,000. Geode Capital Management LLC purchased a new position in shares of Arrive AI during the second quarter valued at approximately $793,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Arrive AI during the second quarter valued at approximately $543,000. Finally, Rockefeller Capital Management L.P. purchased a new position in Arrive AI during the 2nd quarter valued at $607,000.

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.