Microvast (NASDAQ:MVST) Sets New 52-Week High - Time to Buy?

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $2.87 and last traded at $2.55, with a volume of 32745365 shares trading hands. The stock had previously closed at $1.87.

Analyst Ratings Changes

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

Microvast Price Performance

The stock has a market capitalization of $760.97 million, a price-to-earnings ratio of -6.18 and a beta of 2.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 1.30. The company has a fifty day simple moving average of $1.24 and a two-hundred day simple moving average of $0.63.

Hedge Funds Weigh In On Microvast

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 DIFC Ltd bought a new stake in shares of Microvast during the 2nd quarter valued at approximately $28,000. AQR Capital Management LLC raised its holdings in Microvast by 569.1% during 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 during the last quarter. XTX Topco Ltd acquired a new position in Microvast in the second quarter valued at $80,000. Renaissance Technologies LLC bought a new position in shares of Microvast in the 2nd quarter worth about $90,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Microvast in the 2nd quarter valued at about $141,000. 20.72% of the stock is currently owned by institutional investors and hedge funds.

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.