Microvast (NASDAQ:MVST) Stock Price Down 3.9% - What's Next?

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report)'s stock price was down 3.9% during trading on Thursday . The company traded as low as $1.97 and last traded at $1.98. Approximately 1,518,097 shares traded 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.

Analyst Ratings Changes

Separately, HC Wainwright restated a "buy" rating and set a $3.00 target price on shares of Microvast in a report on Monday, November 18th.

Microvast Stock Performance

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 stock has a market cap of $667.06 million, a PE ratio of -5.42 and a beta of 2.14. The business's 50-day moving average price is $1.43 and its 200-day moving average price is $0.69.

Institutional Investors Weigh In On Microvast

A number of hedge funds and other institutional investors 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 valued at about $28,000. AQR Capital Management LLC grew 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 valued at approximately $80,000. Renaissance Technologies LLC purchased a new position in shares of Microvast in the second quarter worth $90,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Microvast during the second quarter worth $141,000. 20.72% of the stock is currently owned by hedge funds and other institutional investors.

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.