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

Microvast logo with Business Services background

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.

View Our Latest Research Report on MVST

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

(Get Free Report)

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.

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