Microvast (NASDAQ:MVST) Shares Gap Up - Still a Buy?

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $1.17, but opened at $1.38. Microvast shares last traded at $1.56, with a volume of 32,590,394 shares trading hands.

Microvast Stock Down 1.6 %

The stock's fifty day moving average is $1.62 and its two-hundred day moving average is $1.20. The company has a current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $582.12 million, a PE ratio of -4.71 and a beta of 2.54.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of Microvast in the 4th quarter worth $32,000. Charles Schwab Investment Management Inc. bought a new position in shares of Microvast during the 4th quarter valued at $229,000. Wealthfront Advisers LLC purchased a new position in Microvast in the 4th quarter worth $135,000. IMG Wealth Management Inc. purchased a new stake in Microvast during the fourth quarter valued at about $38,000. Finally, LPL Financial LLC increased its holdings in shares of Microvast by 559.0% in the fourth quarter. LPL Financial LLC now owns 272,455 shares of the company's stock worth $564,000 after buying an additional 231,109 shares during the period. Institutional investors own 20.72% of the company's stock.

Microvast Company Profile

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.