Microvast (NASDAQ:MVST) Sees Large Volume Increase – Here’s What Happened

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) saw unusually-high trading volume on Friday . Approximately 9,170,215 shares changed hands during trading, a decline of 11% from the previous session’s volume of 10,249,376 shares.The stock last traded at $2.64 and had previously closed at $2.55.

Analyst Ratings Changes

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

Microvast Stock Performance

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’s 50-day moving average price is $0.84 and its 200-day moving average price is $0.51. The stock has a market cap of $793.35 million, a P/E ratio of -6.45 and a beta of 2.54.

Hedge Funds Weigh In On Microvast

Institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new position in shares of Microvast during the second quarter valued at about $264,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Microvast in the second quarter worth about $141,000. Renaissance Technologies LLC bought a new position in Microvast during the second quarter valued at approximately $90,000. XTX Topco Ltd purchased a new position in Microvast during the 2nd quarter valued at approximately $80,000. Finally, AQR Capital Management LLC increased its stake in Microvast by 569.1% in the 2nd 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. 20.72% of the stock is owned by hedge funds and other institutional investors.

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.