Microvast (NASDAQ:MVST) Sees Large Volume Increase – Still a Buy?

Microvast Holdings, Inc. (NASDAQ:MVST) shares saw unusually-high trading volume on Friday . Approximately 12,239,129 shares changed hands during mid-day trading, an increase of 23% from the previous session’s volume of 9,968,985 shares.The stock last traded at $1.62 and had previously closed at $1.50.

Analysts Set New Price Targets

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

Microvast Trading Up 2.0 %

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.30 and a quick ratio of 0.83. The firm has a market capitalization of $495.44 million, a P/E ratio of -4.03 and a beta of 2.54. The business’s 50-day moving average is $0.65 and its 200 day moving average is $0.45.

Institutional Investors Weigh In On Microvast

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 DIFC Ltd bought a new position in Microvast during the 2nd quarter worth $28,000. AQR Capital Management LLC grew its holdings in shares of Microvast by 569.1% during the 2nd quarter. AQR Capital Management LLC now owns 109,139 shares of the company’s stock worth $50,000 after purchasing an additional 92,828 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Microvast in the second quarter worth $80,000. Renaissance Technologies LLC acquired a new position in Microvast in the second quarter valued at about $90,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Microvast in the second 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.