Arrival (NASDAQ:ARVL) Shares Down 33.7%

Arrival (NASDAQ:ARVL) shares dropped 33.7% on Monday . The stock traded as low as $0.48 and last traded at $0.49. Approximately 2,474,700 shares changed hands during trading, an increase of 684% from the average daily volume of 315,558 shares. The stock had previously closed at $0.74.

Arrival Stock Performance

The company’s 50-day moving average is $0.28 and its two-hundred day moving average is $0.84.

Institutional Investors Weigh In On Arrival

Several institutional investors and hedge funds have recently made changes to their positions in ARVL. Raymond James & Associates bought a new stake in Arrival in the 1st quarter worth approximately $42,000. Captrust Financial Advisors grew its position in Arrival by 93.3% in the 1st quarter. Captrust Financial Advisors now owns 29,000 shares of the company’s stock worth $108,000 after purchasing an additional 14,000 shares during the period. Quantbot Technologies LP grew its position in Arrival by 277.7% in the 1st quarter. Quantbot Technologies LP now owns 31,700 shares of the company’s stock worth $118,000 after purchasing an additional 23,306 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Arrival in the 1st quarter worth approximately $120,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of Arrival by 66.8% during the 1st quarter. Advisors Asset Management Inc. now owns 35,241 shares of the company’s stock worth $131,000 after acquiring an additional 14,118 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.