Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) shares fell 3.3% during mid-day trading on Friday . The company traded as low as $2.30 and last traded at $2.33. 1,511,186 shares were traded during trading, a decline of 83% from the average session volume of 8,781,854 shares. The stock had previously closed at $2.41.
Analyst Upgrades and Downgrades
Separately, HC Wainwright reiterated a "buy" rating and issued a $3.00 target price on shares of Microvast in a research note on Monday, November 18th.
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Microvast Stock Performance
The company has a quick ratio of 0.83, a current ratio of 1.30 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average of $1.01 and a 200-day moving average of $0.56. The company has a market cap of $773.92 million, a P/E ratio of -6.29 and a beta of 2.54.
Institutional Trading of Microvast
Hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd bought a new stake in Microvast during the 2nd quarter valued at $28,000. AQR Capital Management LLC boosted its position in Microvast by 569.1% during the second quarter. AQR Capital Management LLC now owns 109,139 shares of the company's stock valued at $50,000 after purchasing an additional 92,828 shares in the last quarter. XTX Topco Ltd purchased a new position in Microvast in the second quarter valued at about $80,000. Renaissance Technologies LLC bought a new position in Microvast in the second quarter worth about $90,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Microvast during the second quarter valued at about $141,000. 20.72% of the stock is owned by hedge funds and other institutional investors.
About Microvast
(
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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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