Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report)'s stock price shot up 6.3% during trading on Monday . The company traded as high as $1.57 and last traded at $1.61. 3,336,465 shares changed hands during trading, a decline of 74% from the average session volume of 13,031,645 shares. The stock had previously closed at $1.51.
Wall Street Analyst Weigh In
Separately, HC Wainwright reiterated a "buy" rating and set a $3.00 target price on shares of Microvast in a research report on Monday, November 18th.
Read Our Latest Stock Analysis on MVST
Microvast Stock Performance
The firm has a 50 day moving average price of $1.78 and a 200-day moving average price of $0.84. 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 capitalization of $518.22 million, a price-to-earnings ratio of -4.21 and a beta of 2.11.
Institutional Trading of Microvast
Several hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC purchased a new position in Microvast during the second quarter worth approximately $264,000. Renaissance Technologies LLC acquired a new position in Microvast in the second quarter worth about $90,000. Charles Schwab Investment Management Inc. bought a new stake in Microvast during the fourth quarter valued at $229,000. AQR Capital Management LLC lifted its holdings 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 worth $50,000 after purchasing an additional 92,828 shares during the last quarter. Finally, Wealthfront Advisers LLC bought a new stake in shares of Microvast during the fourth quarter valued at approximately $135,000. Institutional investors and hedge funds own 20.72% of the company's stock.
Microvast Company Profile
(
Get Free Report)
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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