Microvast (NASDAQ:MVST) Shares Up 6.3% – Here’s Why

Microvast Holdings, Inc. (NASDAQ:MVST)’s stock price shot up 6.3% during trading on Monday . The stock traded as high as $1.57 and last traded at $1.61. 3,336,465 shares changed hands during trading, a decline of 74% from the average session volume of 13,031,645 shares. The stock had previously closed at $1.51.

Analyst Ratings Changes

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

Microvast Price Performance

The company has a market cap of $508.51 million, a P/E ratio of -4.13 and a beta of 2.11. The company has a fifty day simple moving average of $1.70 and a 200-day simple moving average of $0.80. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.30 and a quick ratio of 0.83.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC grew 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 purchased a new position in shares of Microvast during the 2nd quarter valued at $264,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Microvast during the 2nd quarter valued at $90,000. 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.