Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) saw some unusual options trading activity on Thursday. Investors purchased 5,205 call options on the stock. This is an increase of 54% compared to the typical daily volume of 3,374 call options.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new position in Microvast in the second quarter valued at $28,000. AQR Capital Management LLC increased its position in Microvast by 569.1% during the second 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 purchased a new position in Microvast during the second quarter worth approximately $80,000. Renaissance Technologies LLC acquired a new position in shares of Microvast in the 2nd quarter valued at $90,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Microvast during the 2nd quarter valued at $141,000. 20.72% of the stock is currently owned by hedge funds and other institutional investors.
Microvast Price Performance
NASDAQ:MVST traded up $0.35 during trading hours on Thursday, reaching $1.50. 28,797,262 shares of the company traded hands, compared to its average volume of 9,981,287. 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 stock has a market cap of $485.72 million, a P/E ratio of -3.95 and a beta of 2.54. Microvast has a 1-year low of $0.15 and a 1-year high of $1.95. The firm's 50-day moving average is $0.63 and its 200-day moving average is $0.44.
Wall Street Analyst Weigh In
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.
View Our Latest Analysis on Microvast
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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