Microvast (NASDAQ:MVST) Shares Gap Up – Should You Buy?

Microvast Holdings, Inc. (NASDAQ:MVST)’s share price gapped up prior to trading on Monday . The stock had previously closed at $1.53, but opened at $1.65. Microvast shares last traded at $1.75, with a volume of 9,223,602 shares trading hands.

Wall Street Analysts Forecast Growth

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

Microvast Stock Down 4.2 %

The firm has a fifty day moving average of $0.72 and a 200-day moving average of $0.47. The company has a quick ratio of 0.83, a current ratio of 1.30 and a debt-to-equity ratio of 0.24. The firm has a market cap of $592.58 million, a P/E ratio of -4.82 and a beta of 2.54.

Hedge Funds Weigh In On Microvast

A number of institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in shares of Microvast in the 2nd quarter valued at about $80,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Microvast in the 2nd quarter valued at about $141,000. AQR Capital Management LLC grew its holdings 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 purchasing an additional 92,828 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Microvast during the second quarter worth approximately $264,000. Finally, Point72 DIFC Ltd bought a new stake in Microvast in the second quarter valued at approximately $28,000. 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.