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.
See Also
Before you consider Microvast, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Microvast wasn't on the list.
While Microvast currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
