Arrival (NASDAQ:ARVL) Sets New 52-Week Low at $0.86

Arrival (NASDAQ:ARVLGet Rating) hit a new 52-week low during trading on Wednesday . The company traded as low as $0.86 and last traded at $0.92, with a volume of 59051 shares changing hands. The stock had previously closed at $0.93.

Wall Street Analyst Weigh In

Several research firms have recently commented on ARVL. Cowen dropped their price objective on shares of Arrival from $12.00 to $5.50 and set an “outperform” rating on the stock in a report on Monday, August 15th. Cowen cut their price target on Arrival from $12.00 to $5.50 and set an “outperform” rating on the stock in a research report on Monday, August 15th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.50.

Arrival Trading Down 8.1 %

The company’s 50-day moving average is $1.33 and its 200 day moving average is $2.00.

Institutional Investors Weigh In On Arrival

Hedge funds have recently modified their holdings of the company. HighTower Advisors LLC raised its holdings in Arrival by 154.7% in the 4th quarter. HighTower Advisors LLC now owns 28,793 shares of the company’s stock worth $213,000 after purchasing an additional 17,489 shares during the period. Private Advisor Group LLC purchased a new position in shares of Arrival during the 4th quarter valued at approximately $80,000. Allianz Asset Management GmbH acquired a new stake in Arrival in the 4th quarter valued at $3,710,000. Ghisallo Capital Management LLC purchased a new stake in Arrival in the 4th quarter worth $1,855,000. Finally, Capital World Investors raised its position in Arrival by 95.5% during the fourth quarter. Capital World Investors now owns 30,371,059 shares of the company’s stock worth $225,353,000 after acquiring an additional 14,836,367 shares during the period. 81.60% of the stock is owned by hedge funds and other institutional investors.

Arrival Company Profile

(Get Rating)

Arrival engages in the research and development, and design of commercial electric vehicles (EVs), EVs components, robotic manufacturing processes for EVs, and associated software in the United Kingdom, the United States, Russia, and internationally. Its products portfolio includes commercial EV vans, buses, and cars.

Further Reading

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