Microvast (NASDAQ:MVST) Shares Down 3.9% - Should You Sell?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) dropped 3.9% on Thursday . The stock traded as low as $1.97 and last traded at $1.98. Approximately 1,518,097 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 17,085,578 shares. The stock had previously closed at $2.06.

Wall Street Analyst Weigh In

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

Microvast Trading Down 4.6 %

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.30 and a quick ratio of 0.83. The firm has a market cap of $667.07 million, a price-to-earnings ratio of -5.42 and a beta of 2.14. The firm's fifty day moving average is $1.39 and its 200-day moving average is $0.68.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 DIFC Ltd acquired a new position in Microvast in the second quarter valued at approximately $28,000. AQR Capital Management LLC increased its stake 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 valued at $50,000 after acquiring an additional 92,828 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Microvast during the 2nd quarter valued at $80,000. Renaissance Technologies LLC bought a new position in Microvast during the second quarter worth $90,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Microvast in the second quarter worth $141,000. 20.72% of the stock is owned by institutional investors and hedge funds.

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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.