Microvast (NASDAQ:MVST) Shares Gap Down – What’s Next?

Microvast Holdings, Inc. (NASDAQ:MVST) shares gapped down prior to trading on Monday . The stock had previously closed at $2.35, but opened at $2.18. Microvast shares last traded at $1.97, with a volume of 4,321,416 shares trading hands.

Analyst Upgrades and Downgrades

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

Microvast Stock Down 15.1 %

The company has a current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24. The stock has a market cap of $646.01 million, a P/E ratio of -5.25 and a beta of 2.14. The firm has a 50-day simple moving average of $1.24 and a two-hundred day simple moving average of $0.64.

Hedge Funds Weigh In On Microvast

A number of hedge funds have recently bought and sold shares of MVST. Cubist Systematic Strategies LLC acquired a new stake in Microvast during the second quarter worth approximately $264,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Microvast during the second quarter worth about $141,000. Renaissance Technologies LLC acquired a new stake in shares of Microvast during the 2nd quarter worth approximately $90,000. XTX Topco Ltd bought a new position in Microvast in the second quarter valued at approximately $80,000. Finally, AQR Capital Management LLC raised its position in Microvast by 569.1% during the second quarter. AQR Capital Management LLC now owns 109,139 shares of the company’s stock valued at $50,000 after purchasing an additional 92,828 shares in the last quarter. 20.72% of the stock is owned by institutional investors.

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.