Microvast (NASDAQ:MVST) Earns Buy Rating from HC Wainwright

Microvast (NASDAQ:MVST)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $3.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 67.60% from the stock’s current price.

Microvast Stock Up 9.5 %

NASDAQ:MVST opened at $1.79 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.30 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average price is $1.63 and its two-hundred day moving average price is $1.25. Microvast has a twelve month low of $0.15 and a twelve month high of $2.87. The firm has a market capitalization of $582.12 million, a price-to-earnings ratio of -4.71 and a beta of 2.54.

Institutional Investors Weigh In On Microvast

Hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new stake in shares of Microvast in the 4th quarter worth approximately $737,000. LPL Financial LLC lifted its holdings in shares of Microvast by 559.0% in the 4th quarter. LPL Financial LLC now owns 272,455 shares of the company’s stock valued at $564,000 after acquiring an additional 231,109 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new position in shares of Microvast during the fourth quarter worth approximately $229,000. Bank of America Corp DE increased its holdings in Microvast by 193.9% during the fourth quarter. Bank of America Corp DE now owns 112,754 shares of the company’s stock valued at $233,000 after buying an additional 74,393 shares during the period. Finally, Wealthfront Advisers LLC purchased a new position in Microvast in the fourth quarter worth $135,000. 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.