Microvast (NASDAQ:MVST) Sees Strong Trading Volume – Here’s What Happened

Microvast Holdings, Inc. (NASDAQ:MVST) saw strong trading volume on Friday . 9,170,215 shares were traded during trading, a decline of 11% from the previous session’s volume of 10,249,376 shares.The stock last traded at $2.64 and had previously closed at $2.55.

Wall Street Analyst Weigh In

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

Microvast Stock Performance

The company has a market cap of $786.87 million, a PE ratio of -6.39 and a beta of 2.54. The stock has a 50 day simple moving average of $0.80 and a two-hundred day simple moving average of $0.50. 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 Investors Weigh In On Microvast

A number of institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new position in Microvast during the second quarter worth $264,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Microvast during the 2nd quarter worth $141,000. Renaissance Technologies LLC acquired a new position in shares of Microvast during the 2nd quarter worth $90,000. XTX Topco Ltd purchased a new position in shares of Microvast in the 2nd quarter valued at about $80,000. Finally, AQR Capital Management LLC boosted its holdings in Microvast by 569.1% during the second quarter. AQR Capital Management LLC now owns 109,139 shares of the company’s stock worth $50,000 after buying an additional 92,828 shares in the last quarter. Hedge funds and other institutional investors own 20.72% of the company’s stock.

About Microvast

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.