Microvast (NASDAQ:MVST) Shares Gap Up – Here’s Why

Microvast Holdings, Inc. (NASDAQ:MVST) shares gapped up before the market opened on Friday . The stock had previously closed at $1.50, but opened at $1.55. Microvast shares last traded at $1.57, with a volume of 3,437,308 shares.

Analyst Ratings Changes

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

Microvast Price Performance

The stock has a market cap of $503.00 million, a PE ratio of -4.12 and a beta of 2.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 1.30. The business has a 50 day moving average price of $1.68 and a two-hundred day moving average price of $0.79.

Hedge Funds Weigh In On Microvast

Several hedge funds have recently made changes to their positions in MVST. Point72 DIFC Ltd bought a new stake in shares of Microvast in the 2nd quarter worth approximately $28,000. Cubist Systematic Strategies LLC purchased a new stake in Microvast during the 2nd quarter valued at about $264,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Microvast during the second quarter valued at approximately $141,000. AQR Capital Management LLC boosted its position in shares of Microvast by 569.1% during the second quarter. AQR Capital Management LLC now owns 109,139 shares of the company’s stock valued at $50,000 after buying an additional 92,828 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Microvast in the second quarter worth approximately $90,000. 20.72% of the stock is currently owned by hedge funds and other institutional investors.

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.