Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 12,239,129 shares traded hands during trading, an increase of 23% from the previous session's volume of 9,968,985 shares.The stock last traded at $1.62 and had previously closed at $1.50.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright reiterated a "buy" rating and issued a $3.00 target price on shares of Microvast in a report on Monday, November 18th.
Read Our Latest Report on Microvast
Microvast Stock Performance
The stock's 50-day moving average is $0.65 and its 200-day moving average is $0.45. The stock has a market cap of $495.44 million, a price-to-earnings ratio of -4.03 and a beta of 2.54. The company has a current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24.
Institutional Investors Weigh In On Microvast
Several hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC bought a new stake in shares of Microvast in the second quarter worth $264,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Microvast in the second quarter valued at approximately $141,000. Renaissance Technologies LLC bought a new position in shares of Microvast during the second quarter valued at approximately $90,000. XTX Topco Ltd acquired a new stake in shares of Microvast during the 2nd quarter worth approximately $80,000. Finally, AQR Capital Management LLC lifted its holdings in shares of 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 during the last quarter. 20.72% of the stock is currently owned by hedge funds and other institutional investors.
About Microvast
(
Get Free Report)
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.
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