Microvast (NASDAQ:MVST) Shares Down 6.8% - Should You Sell?

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report)'s stock price was down 6.8% on Friday . The company traded as low as $1.55 and last traded at $1.57. Approximately 2,065,728 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 11,692,482 shares. The stock had previously closed at $1.68.

Wall Street Analysts Forecast Growth

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

Microvast Stock Up 6.5 %

The stock has a 50-day moving average of $1.79 and a two-hundred day moving average of $0.85. The company has a market cap of $579.76 million, a P/E ratio of -4.71 and a beta of 2.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 1.30.

Institutional Trading of Microvast

A number of hedge funds have recently bought and sold shares of MVST. Cubist Systematic Strategies LLC bought a new stake in Microvast in the second quarter valued at approximately $264,000. LPL Financial LLC lifted its position in Microvast by 559.0% in the fourth quarter. LPL Financial LLC now owns 272,455 shares of the company's stock valued at $564,000 after purchasing an additional 231,109 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Microvast in the second quarter valued at approximately $90,000. Charles Schwab Investment Management Inc. bought a new stake in Microvast in the fourth quarter valued at approximately $229,000. Finally, AQR Capital Management LLC lifted its position in Microvast by 569.1% in 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 during the last quarter. Institutional investors own 20.72% of the company's stock.

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.