Arrival (NASDAQ:ARVL) Sees Significant Decrease in Short Interest

Arrival (NASDAQ:ARVL) was the target of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 1,880,000 shares, a decline of 13.8% from the October 15th total of 2,180,000 shares. Based on an average daily volume of 181,200 shares, the short-interest ratio is currently 10.4 days. Approximately 22.2% of the company’s shares are sold short.

Arrival Stock Performance

Arrival stock opened at $1.03 on Wednesday. The stock has a fifty day moving average price of $1.17 and a 200 day moving average price of $1.91. Arrival has a 52 week low of $0.91 and a 52 week high of $47.00.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Citigroup Inc. grew its holdings in Arrival by 58,349.4% in the first quarter. Citigroup Inc. now owns 46,475,471 shares of the company’s stock valued at $6,228,000 after purchasing an additional 46,395,957 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Arrival by 26.1% in 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 during the last quarter. Renaissance Technologies LLC grew its stake in shares of Arrival by 726.9% during the 4th quarter. Renaissance Technologies LLC now owns 15,888,300 shares of the company’s stock valued at $2,534,000 after buying an additional 13,966,900 shares during the period. BlackRock Inc. grew its stake in shares of 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 buying an additional 2,891,900 shares during the period. Finally, Antara Capital LP increased its holdings in shares of Arrival by 187.6% during the 1st quarter. Antara Capital LP now owns 12,930,511 shares of the company’s stock worth $1,733,000 after buying an additional 27,699,111 shares during the last quarter.

Arrival Company Profile

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.