Arrival (NASDAQ:ARVL) Shares Gap Up to $1.84

Shares of Arrival (NASDAQ:ARVLGet Rating) gapped up prior to trading on Tuesday . The stock had previously closed at $1.84, but opened at $1.99. Arrival shares last traded at $1.94, with a volume of 111,304 shares.

Separately, Barclays lowered their target price on Arrival from $20.00 to $6.00 and set an “overweight” rating on the stock in a report on Thursday, March 10th.

The business has a 50-day simple moving average of $2.96 and a 200-day simple moving average of $5.82.

Large investors have recently bought and sold shares of the business. Capital World Investors grew its stake in shares of 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 purchasing an additional 14,836,367 shares in the last quarter. BlackRock Inc. grew its stake in shares of Arrival by 1,016.0% during the fourth quarter. BlackRock Inc. now owns 12,784,112 shares of the company’s stock worth $94,859,000 after purchasing an additional 11,638,541 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Arrival by 261.3% during the third quarter. Wellington Management Group LLP now owns 12,655,090 shares of the company’s stock worth $166,414,000 after purchasing an additional 9,152,461 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Arrival during the first quarter worth $6,157,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Arrival by 128.3% during the third quarter. Goldman Sachs Group Inc. now owns 1,995,497 shares of the company’s stock worth $26,241,000 after purchasing an additional 1,121,494 shares in the last quarter. Institutional investors and hedge funds own 9.72% of the company’s stock.

About Arrival (NASDAQ:ARVL)

Arrival focuses on the design, assembly, and distribution of commercial electric vehicles (EVs) worldwide. Its portfolio of EVs includes commercial EV vans, buses, and cars. The company was founded in 2015 and is based in Howald, Luxembourg.

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