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

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $2.14, but opened at $2.06. Microvast shares last traded at $2.02, with a volume of 3,171,401 shares changing hands.

Analyst Upgrades and Downgrades

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

Microvast Stock Down 2.8 %

The stock has a 50 day moving average price of $1.53 and a 200 day moving average price of $0.73. 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 stock has a market capitalization of $673.55 million, a price-to-earnings ratio of -5.47 and a beta of 2.14.

Hedge Funds Weigh In On Microvast

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new position in shares of Microvast during the second quarter worth $28,000. AQR Capital Management LLC raised its position 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 during the 2nd quarter worth about $80,000. Renaissance Technologies LLC bought a new stake in shares of Microvast in the 2nd quarter valued at about $90,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Microvast in the second 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.