Microvast (NASDAQ:MVST) Shares Up 9% - Should You Buy?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) traded up 9% on Wednesday . The company traded as high as $2.24 and last traded at $2.23. 3,097,692 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 17,645,414 shares. The stock had previously closed at $2.05.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a "buy" rating and issued a $3.00 price target on shares of Microvast in a research note on Monday, November 18th.

Microvast Stock Up 0.5 %

The firm's fifty day moving average is $1.32 and its 200-day moving average is $0.66. The company has a market capitalization of $667.06 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.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new stake in shares of Microvast during the 2nd quarter valued at $28,000. AQR Capital Management LLC boosted its stake in shares of 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. XTX Topco Ltd bought a new stake in shares of Microvast during the second quarter worth about $80,000. Renaissance Technologies LLC acquired a new position in shares of Microvast in the second quarter valued at approximately $90,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Microvast in the 2nd quarter valued at approximately $141,000. 20.72% of the stock is currently 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.