Microvast Holdings, Inc. (NASDAQ:MVST) Sees Significant Decrease in Short Interest

Microvast Holdings, Inc. (NASDAQ:MVST) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 13,940,000 shares, a decline of 22.4% from the December 15th total of 17,960,000 shares. Currently, 7.8% of the company’s stock are sold short. Based on an average daily trading volume, of 32,040,000 shares, the days-to-cover ratio is currently 0.4 days.

Analysts Set New Price Targets

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

Microvast Stock Down 4.6 %

Shares of Microvast stock traded down $0.10 during trading on Friday, hitting $2.06. 11,330,603 shares of the stock traded hands, compared to its average volume of 17,351,961. The stock has a market cap of $667.07 million, a P/E ratio of -5.42 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. Microvast has a twelve month low of $0.15 and a twelve month high of $2.87. The company has a fifty day moving average price of $1.39 and a two-hundred day moving average price of $0.68.

Institutional Investors Weigh In On Microvast

Institutional investors have recently made changes to their positions in the company. Point72 DIFC Ltd acquired a new stake in shares of Microvast during the 2nd quarter valued at about $28,000. AQR Capital Management LLC lifted its holdings in Microvast by 569.1% in 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 during the last quarter. XTX Topco Ltd acquired a new stake in Microvast in the 2nd quarter worth approximately $80,000. Renaissance Technologies LLC acquired a new stake in Microvast in the 2nd quarter worth approximately $90,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Microvast in the 2nd quarter worth approximately $141,000. 20.72% of the stock is currently owned by institutional investors and hedge funds.

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.