Microvast Holdings, Inc. (NASDAQ:MVST) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its stake in Microvast Holdings, Inc. (NASDAQ:MVST - Free Report) by 11.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,248,810 shares of the company's stock after selling 280,742 shares during the period. Geode Capital Management LLC owned about 0.69% of Microvast worth $561,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MVST. Cubist Systematic Strategies LLC acquired a new stake in shares of Microvast in the second quarter valued at about $264,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Microvast in the 2nd quarter valued at $141,000. Renaissance Technologies LLC purchased a new position in Microvast in the 2nd quarter valued at $90,000. XTX Topco Ltd acquired a new position in Microvast during the second quarter worth about $80,000. Finally, AQR Capital Management LLC lifted its stake in Microvast by 569.1% in the 2nd quarter. AQR Capital Management LLC now owns 109,139 shares of the company's stock worth $50,000 after purchasing an additional 92,828 shares in the last quarter. Institutional investors and hedge funds own 20.72% of the company's stock.

Analysts Set New Price Targets

Separately, HC Wainwright restated a "buy" rating and issued a $3.00 target price on shares of Microvast in a report on Monday, November 18th.

Microvast Trading Up 25.7 %

Shares of MVST stock traded up $0.48 during trading on Friday, hitting $2.35. 76,641,878 shares of the stock traded hands, compared to its average volume of 22,535,535. Microvast Holdings, Inc. has a 52-week low of $0.15 and a 52-week high of $2.87. The firm has a market capitalization of $760.97 million, a P/E ratio of -6.18 and a beta of 2.14. The firm's fifty day moving average price is $1.24 and its 200-day moving average price is $0.64. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.30 and a quick ratio of 0.83.

About Microvast

Microvast Holdings, Inc provides battery technologies for electric vehicles and energy storage solutions. The company offers a range of cell chemistries, such as lithium titanate oxide, lithium iron phosphate, and nickel manganese cobalt version 1 and 2. It also designs, develops, and manufactures battery components, such as cathode, anode, electrolyte, and separator.