Arrive AI (NASDAQ:ARAI) Issues Quarterly Earnings Results

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

Arrive AI Stock Performance

Shares of NASDAQ:ARAI traded down $0.62 during midday trading on Wednesday, reaching $1.04. 17,608,385 shares of the company’s stock traded hands, compared to its average volume of 8,101,728. The company has a market cap of $37.72 million and a price-to-earnings ratio of -5.50. Arrive AI has a one year low of $0.51 and a one year high of $40.00. The stock has a 50 day moving average of $1.03 and a 200 day moving average of $2.77.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC bought a new position in Arrive AI in the second quarter valued at about $133,000. PharVision Advisers LLC bought a new position in Arrive AI in the third quarter valued at about $60,000. Geode Capital Management LLC lifted its holdings in Arrive AI by 15.7% in the fourth quarter. Geode Capital Management LLC now owns 123,571 shares of the company’s stock valued at $325,000 after acquiring an additional 16,804 shares during the period. Two Sigma Investments LP bought a new position in Arrive AI in the third quarter valued at about $106,000. Finally, State Street Corp lifted its holdings in Arrive AI by 193.6% in the fourth quarter. State Street Corp now owns 46,100 shares of the company’s stock valued at $121,000 after acquiring an additional 30,400 shares during the period.

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.