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

Microvast Holdings, Inc. (NASDAQ:MVST)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $1.98, but opened at $2.10. Microvast shares last traded at $1.98, with a volume of 2,416,574 shares changing hands.

Analyst Ratings Changes

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

Microvast Price Performance

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 company’s 50-day moving average price is $1.85 and its two-hundred day moving average price is $0.89.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC acquired a new position in shares of Microvast in the fourth quarter worth about $73,000. XTX Topco Ltd boosted its holdings in shares of Microvast by 38.4% in 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. ExodusPoint Capital Management LP acquired a new position in shares of Microvast in the fourth quarter worth about $78,000. Prudential Financial Inc. acquired a new position in shares of Microvast in the fourth quarter worth about $55,000. Finally, LPL Financial LLC boosted its holdings in shares of Microvast by 559.0% in the fourth quarter. LPL Financial LLC now owns 272,455 shares of the company’s stock worth $564,000 after buying an additional 231,109 shares during the period. 20.72% of the stock is currently owned by institutional investors and hedge funds.

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.