Microvast (NASDAQ:MVST) Stock Price Up 9.7% – Should You Buy?

Microvast Holdings, Inc. (NASDAQ:MVST)’s share price was up 9.7% during trading on Thursday . The stock traded as high as $2.01 and last traded at $2.01. Approximately 2,989,036 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 10,134,990 shares. The stock had previously closed at $1.83.

Analyst Upgrades and Downgrades

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

Microvast Trading Down 3.9 %

The company has a current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24. The stock has a 50-day simple moving average of $0.84 and a 200 day simple moving average of $0.51. The company has a market cap of $793.35 million, a price-to-earnings ratio of -6.45 and a beta of 2.54.

Institutional Investors Weigh In On Microvast

A number of institutional investors and hedge funds have recently modified their holdings of the company. Point72 DIFC Ltd acquired a new position in Microvast in the 2nd quarter worth approximately $28,000. AQR Capital Management LLC increased its stake in shares of Microvast by 569.1% in 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 period. XTX Topco Ltd acquired a new stake in shares of Microvast in the second quarter worth $80,000. Renaissance Technologies LLC purchased a new position in shares of Microvast during the second quarter worth $90,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Microvast in the second quarter valued at $141,000. Institutional investors and hedge funds own 20.72% of the company’s stock.

About Microvast

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.