Shares of Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) dropped 5% on Thursday . The stock traded as low as $1.99 and last traded at $1.98. Approximately 893,582 shares were traded during trading, a decline of 94% from the average daily volume of 14,701,788 shares. The stock had previously closed at $2.08.
Wall Street Analyst Weigh In
Separately, HC Wainwright reissued a "buy" rating and issued a $3.00 price objective on shares of Microvast in a report on Monday, November 18th.
Get Our Latest Report on Microvast
Microvast Stock Performance
The company has a market capitalization of $705.93 million, a P/E ratio of -5.74 and a beta of 2.14. 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's fifty day moving average is $1.59 and its 200 day moving average is $0.75.
Hedge Funds Weigh In On Microvast
A number of large investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC purchased a new position in Microvast during the second quarter valued at approximately $264,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Microvast during the 2nd quarter valued at $141,000. Renaissance Technologies LLC purchased a new position in shares of Microvast during the 2nd quarter valued at $90,000. XTX Topco Ltd bought a new position in shares of Microvast in the second quarter worth $80,000. Finally, AQR Capital Management LLC raised its position in shares of Microvast by 569.1% in the second quarter. AQR Capital Management LLC now owns 109,139 shares of the company's stock worth $50,000 after buying an additional 92,828 shares in the last quarter. 20.72% of the stock is owned by institutional investors.
Microvast Company Profile
(
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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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