Microvast (NASDAQ:MVST) Trading Down 3.3% – Here’s Why

Microvast Holdings, Inc. (NASDAQ:MVST) traded down 3.3% on Friday . The company traded as low as $2.30 and last traded at $2.33. 1,511,186 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 8,781,854 shares. The stock had previously closed at $2.41.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and issued a $3.00 target price on shares of Microvast in a report on Monday, November 18th.

Microvast Trading Up 4.6 %

The stock has a market capitalization of $816.01 million, a PE ratio of -6.63 and a beta of 2.54. 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’s 50 day simple moving average is $1.01 and its two-hundred day simple moving average is $0.56.

Hedge Funds Weigh In On Microvast

Institutional investors have recently made changes to their positions in the stock. Point72 DIFC Ltd bought a new stake in shares of Microvast in the 2nd quarter worth approximately $28,000. AQR Capital Management LLC raised its holdings in shares of Microvast by 569.1% during 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 2nd quarter worth about $80,000. Renaissance Technologies LLC bought a new position in shares of Microvast during the 2nd quarter worth $90,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Microvast in the second quarter worth $141,000. Institutional investors own 20.72% of the company’s stock.

About Microvast

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.