Point72 Asset Management LP recently announced the acquisition of new stake in Arrival (NASDAQ:ARVL). This fresh investment now brings its stake to 0.40% valued currently at $2.0 million. In addition, Two Sigma Advisers LP raised its holdings by 0.28 million to 2.2 million shares. And Qube Research & Technologies Ltd. has lifted its position by 203.91% or 1.27 million shares – to 1.89 million shares.
With over 16.02 million Arrival (ARVL) shares trading Monday and a closing price of $0.35 on the day, the dollar volume was approximately $5.61 million. The shares have shown a negative half year performance of -80.96% and its price on 11/21/22 lost nearly -11.00%. Currently, there are 486.07M common shares owned by the public and among those 197.32M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for ARVL have a consensus price objective of $5.37. The analysts have set the share’s price value over the next 12 months at a high of $5.37 and a low of $5.37. The average price target is 76.67% above its recent price level and an upside to the estimated low will see the stock gain 93.48% over that period. But an upside of 93.48% will see the stock hit the forecast high price target while median target price for the stock is $5.37.
Shares of Arrival (NASDAQ: ARVL) opened at $0.3808, down -$0.01 from a prior closing price of $0.39. However, the script later moved the day high at 0.3936, down -11.00%. The company’s stock has a 5-day price change of -27.05% and -70.80% over the past three months. ARVL shares are trading -95.28% year to date (YTD), with the 12-month market performance down to -96.66% lower. It has a 12-month low price of $0.36 and touched a high of $10.84 over the same period. ARVL has an average intraday trading volume of 7.21 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -40.85%, -52.21%, and -81.53% respectively.
Institutional ownership of Arrival (NASDAQ: ARVL) shares accounts for 9.90% of the company’s 486.07M shares outstanding. Mutual fund holders own 2.00%, while other institutional holders and individual stakeholders account for 7.41% and — respectively.
It has a market capitalization of $232.74M. The earnings-per-share (ttm) stands at -$1.91. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.12% over the week and 13.48% over the month.
Analysts forecast that Arrival (ARVL) will achieve an EPS of -$0.09 for the current quarter, -$0.09 for the next quarter and -$0.37 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.09 while analysts give the company a high EPS estimate of -$0.09. Comparatively, EPS for the current quarter was $0.09 a year ago. Earnings per share for the fiscal year are expected to decrease by -275.00%, and -30.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Arrival (ARVL) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 2 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ARVL, a number of firms have released research notes about the stock. Berenberg stated their Buy rating for the stock in a research note on October 06, 2021, with the firm’s price target at $17. Barclays coverage for the Arrival (ARVL) stock in a research note released on June 03, 2021 offered a Overweight rating with a price target of $25.