Microvast (NASDAQ:MVST) Shares Gap Down - Here's What Happened

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $1.55, but opened at $1.46. Microvast shares last traded at $1.65, with a volume of 2,975,879 shares trading hands.

Microvast Stock Up 0.8 %

The firm has a market capitalization of $587.00 million, a PE ratio of -4.75 and a beta of 2.54. 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 firm has a 50-day moving average of $1.62 and a two-hundred day moving average of $1.21.

Hedge Funds Weigh In On Microvast

Hedge funds and other institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC acquired a new stake in shares of Microvast in the fourth quarter valued at about $737,000. Bank of America Corp DE grew its position in shares of Microvast by 193.9% during the 4th 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 last quarter. BNP Paribas Financial Markets bought a new stake in shares of Microvast in the 4th quarter worth approximately $25,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Microvast during the fourth quarter worth about $73,000. Finally, XTX Topco Ltd increased its stake in shares of Microvast by 38.4% in the fourth quarter. XTX Topco Ltd now owns 119,066 shares of the company's stock valued at $246,000 after purchasing an additional 33,016 shares during the period. 20.72% of the stock is 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.