Microvast (NASDAQ:MVST) Shares Gap Down – Time to Sell?

Microvast Holdings, Inc. (NASDAQ:MVST) gapped down before the market opened on Tuesday . The stock had previously closed at $1.48, but opened at $1.40. Microvast shares last traded at $1.56, with a volume of 3,648,335 shares trading hands.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price objective on shares of Microvast in a research note on Monday, November 18th.

Microvast Stock Up 2.0 %

The business’s 50 day simple moving average is $1.97 and its 200 day simple moving average is $1.01. 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 firm has a market capitalization of $489.08 million, a PE ratio of -3.97 and a beta of 2.11.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC purchased a new stake in Microvast during the fourth quarter valued at approximately $737,000. Bank of America Corp DE increased its position in shares of Microvast by 193.9% during the 4th quarter. Bank of America Corp DE now owns 112,754 shares of the company’s stock valued at $233,000 after purchasing an additional 74,393 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Microvast during the 4th quarter valued at $25,000. Schonfeld Strategic Advisors LLC bought a new stake in Microvast in the fourth quarter worth $73,000. Finally, XTX Topco Ltd boosted its stake in Microvast by 38.4% during the fourth quarter. XTX Topco Ltd now owns 119,066 shares of the company’s stock worth $246,000 after buying an additional 33,016 shares during the period. Hedge funds and other institutional investors own 20.72% of the company’s stock.

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.