Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) shares fell 8.2% on Wednesday . The company traded as low as $1.76 and last traded at $1.74. 3,246,210 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 13,561,107 shares. The stock had previously closed at $1.89.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright reiterated a "buy" rating and issued a $3.00 price objective on shares of Microvast in a research report on Monday, November 18th.
Check Out Our Latest Stock Report on Microvast
Microvast Stock Performance
The company has a quick ratio of 0.83, a current ratio of 1.30 and a debt-to-equity ratio of 0.24. The stock's fifty day moving average is $1.64 and its two-hundred day moving average is $0.77. The firm has a market capitalization of $535.92 million, a price-to-earnings ratio of -4.36 and a beta of 2.14.
Institutional Investors Weigh In On Microvast
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 DIFC Ltd purchased a new position in shares of Microvast during the 2nd quarter valued at about $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 worth $50,000 after acquiring an additional 92,828 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Microvast during the second quarter valued at approximately $80,000. Renaissance Technologies LLC purchased a new stake in shares of Microvast in the second quarter worth $90,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Microvast during the 2nd quarter valued at about $141,000. 20.72% of the stock is owned by hedge funds and other institutional investors.
About Microvast
(
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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