Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report)'s stock price was down 8.2% on Wednesday . The company traded as low as $1.76 and last traded at $1.74. Approximately 3,246,210 shares changed hands during trading, a decline of 76% from the average daily volume of 13,561,107 shares. The stock had previously closed at $1.89.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright reissued a "buy" rating and issued a $3.00 price target on shares of Microvast in a research report on Monday, November 18th.
Check Out Our Latest Stock Analysis on Microvast
Microvast Price Performance
The business has a 50 day simple moving average of $1.70 and a 200-day simple moving average of $0.80. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 1.30.
Hedge Funds Weigh In On Microvast
A number of hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC raised its holdings 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 valued at $50,000 after purchasing an additional 92,828 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Microvast in the 2nd quarter worth about $90,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Microvast in the 2nd quarter valued at about $264,000. 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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