Microvast Sees Unusually Large Options Volume (NASDAQ:MVST)

Microvast Holdings, Inc. (NASDAQ:MVST) was the target of some unusual options trading on Friday. Traders purchased 24,642 call options on the stock. This is an increase of 324% compared to the typical volume of 5,810 call options.

Institutional Investors Weigh In On Microvast

Large investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd bought a new stake in shares of Microvast in the 2nd quarter valued at about $28,000. Cubist Systematic Strategies LLC bought a new position in Microvast in the second quarter worth approximately $264,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Microvast during the second quarter worth $141,000. AQR Capital Management LLC boosted its position in Microvast by 569.1% during the 2nd quarter. AQR Capital Management LLC now owns 109,139 shares of the company’s stock valued at $50,000 after acquiring an additional 92,828 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Microvast in the 2nd quarter valued at $80,000. 20.72% of the stock is owned by hedge funds and other institutional investors.

Microvast Stock Up 25.7 %

NASDAQ:MVST opened at $2.35 on Friday. The stock has a fifty day simple moving average of $1.24 and a 200-day simple moving average of $0.63. 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 company has a market cap of $760.97 million, a price-to-earnings ratio of -6.18 and a beta of 2.14. Microvast has a twelve month low of $0.15 and a twelve month high of $2.87.

Analysts Set New Price Targets

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

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.