Microvast (NASDAQ:MVST) Shares Gap Up – Still a Buy?

Microvast Holdings, Inc. (NASDAQ:MVST) gapped up prior to trading on Thursday . The stock had previously closed at $2.07, but opened at $2.25. Microvast shares last traded at $2.43, with a volume of 6,256,585 shares trading hands.

Analyst Ratings Changes

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

Microvast Price Performance

The stock has a market cap of $773.92 million, a PE ratio of -6.29 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 company has a 50-day simple moving average of $1.06 and a 200-day simple moving average of $0.58.

Hedge Funds Weigh In On Microvast

Several hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in shares of Microvast during the 2nd quarter worth $80,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Microvast during the 2nd quarter worth about $141,000. AQR Capital Management LLC increased its position in 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 purchasing an additional 92,828 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Microvast in the second quarter worth $264,000. Finally, Point72 DIFC Ltd acquired a new position in shares of Microvast during the 2nd quarter valued at $28,000. 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.