Arrival (NASDAQ:ARVL) Short Interest Up 6.3% in December

Arrival (NASDAQ:ARVLGet Rating) saw a large growth in short interest in the month of December. As of December 30th, there was short interest totalling 52,560,000 shares, a growth of 6.3% from the December 15th total of 49,450,000 shares. Based on an average trading volume of 9,550,000 shares, the days-to-cover ratio is currently 5.5 days. Approximately 22.9% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Cowen downgraded Arrival from an “outperform” rating to a “market perform” rating and set a $5.50 target price for the company. in a research report on Tuesday, November 8th.

Institutional Investors Weigh In On Arrival

A number of hedge funds and other institutional investors have recently bought and sold shares of ARVL. Wellington Management Group LLP increased its holdings in Arrival by 26.1% during the 1st quarter. Wellington Management Group LLP now owns 38,136,614 shares of the company’s stock valued at $142,250,000 after purchasing an additional 7,899,252 shares in the last quarter. Millennium Management LLC increased its holdings in Arrival by 486.6% during the 2nd quarter. Millennium Management LLC now owns 5,517,254 shares of the company’s stock valued at $8,717,000 after purchasing an additional 4,576,784 shares in the last quarter. BlackRock Inc. increased its holdings in Arrival by 22.6% during the 1st quarter. BlackRock Inc. now owns 15,676,012 shares of the company’s stock valued at $58,473,000 after purchasing an additional 2,891,900 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Arrival during the 3rd quarter valued at $2,083,000. Finally, Renaissance Technologies LLC increased its holdings in Arrival by 130.2% during the 2nd quarter. Renaissance Technologies LLC now owns 3,799,400 shares of the company’s stock valued at $6,003,000 after purchasing an additional 2,148,600 shares in the last quarter. 73.85% of the stock is owned by institutional investors and hedge funds.

Arrival Stock Performance

Arrival stock opened at $0.42 on Wednesday. Arrival has a one year low of $0.14 and a one year high of $4.83. The business has a 50 day simple moving average of $0.30 and a 200 day simple moving average of $0.80.

Arrival (NASDAQ:ARVLGet Rating) last posted its earnings results on Tuesday, November 8th. The company reported ($0.13) EPS for the quarter.

Arrival Company Profile

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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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