Microvast Target of Unusually High Options Trading (NASDAQ:MVST)

Microvast Holdings, Inc. (NASDAQ:MVST) was the recipient of unusually large options trading activity on Thursday. Stock investors bought 5,205 call options on the company. This is an increase of approximately 54% compared to the typical daily volume of 3,374 call options.

Microvast Price Performance

NASDAQ:MVST opened at $1.53 on Friday. The company has a 50 day moving average price of $0.65 and a 200-day moving average price of $0.45. Microvast has a 1-year low of $0.15 and a 1-year high of $1.95. The firm has a market cap of $495.44 million, a price-to-earnings ratio of -4.03 and a beta of 2.54. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.30 and a quick ratio of 0.83.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Microvast

A number of large investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd acquired a new position in Microvast in the 2nd quarter valued at $28,000. AQR Capital Management LLC boosted 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 worth $50,000 after acquiring an additional 92,828 shares during the last quarter. XTX Topco Ltd purchased a new stake in Microvast during the 2nd quarter valued at about $80,000. Renaissance Technologies LLC acquired a new stake in Microvast in the 2nd quarter valued at about $90,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Microvast in the 2nd quarter valued at about $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.