Microvast (NASDAQ:MVST) Shares Gap Down – Time to Sell?

Posted by MarketBeat News on Jan 2nd, 2025

Microvast Holdings, Inc. (NASDAQ:MVST – Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $2.75, but opened at $2.64. Microvast shares last traded at $2.41, with a volume of 5,002,460 shares trading hands.

Wall Street Analyst Weigh In

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

Read Our Latest Report on Microvast

Microvast Trading Down 24.7 %

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The company has a 50 day simple moving average of $0.93 and a 200 day simple moving average of $0.54. 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 market capitalization of $670.30 million, a PE ratio of -5.45 and a beta of 2.54.

Institutional Investors Weigh In On Microvast

Several hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new stake in Microvast in the second quarter valued at about $28,000. AQR Capital Management LLC lifted its holdings in shares of Microvast by 569.1% in the 2nd quarter. AQR Capital Management LLC now owns 109,139 shares of the company’s stock valued at $50,000 after buying an additional 92,828 shares during the period. XTX Topco Ltd purchased a new stake in shares of Microvast in the second quarter valued at approximately $80,000. Renaissance Technologies LLC acquired a new position in Microvast during the second quarter worth $90,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Microvast in the second quarter worth $141,000. 20.72% of the stock is owned by institutional investors and hedge funds.

About Microvast

(Get Free Report)

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.