Microvast (NASDAQ:MVST) Sets New 12-Month High – Here’s What Happened

Microvast Holdings, Inc. (NASDAQ:MVST)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $2.87 and last traded at $2.55, with a volume of 32745365 shares traded. The stock had previously closed at $1.87.

Analyst Upgrades and Downgrades

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

Microvast Stock Performance

The company’s 50-day moving average price is $1.24 and its 200 day moving average price is $0.64. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 1.30. The stock has a market capitalization of $760.97 million, a PE ratio of -6.18 and a beta of 2.14.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Point72 DIFC Ltd purchased a new position in Microvast during the 2nd quarter valued at about $28,000. AQR Capital Management LLC raised its holdings in 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 buying an additional 92,828 shares during the last quarter. XTX Topco Ltd purchased a new position in Microvast in the second quarter worth about $80,000. Renaissance Technologies LLC purchased a new position in Microvast in the second quarter worth about $90,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Microvast in the second quarter worth about $141,000. 20.72% of the stock is owned by hedge funds and other institutional investors.

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.