Geode Capital Management LLC Sells 280,742 Shares of Microvast Holdings, Inc. (NASDAQ:MVST)

Geode Capital Management LLC decreased its holdings in Microvast Holdings, Inc. (NASDAQ:MVST) by 11.1% in the third quarter, Holdings Channel reports. The fund owned 2,248,810 shares of the company’s stock after selling 280,742 shares during the quarter. Geode Capital Management LLC’s holdings in Microvast were worth $561,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Point72 DIFC Ltd bought a new position in shares of Microvast in the 2nd 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 acquiring an additional 92,828 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Microvast in the 2nd quarter valued at about $80,000. Renaissance Technologies LLC bought a new position in shares of Microvast in the 2nd quarter valued at about $90,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Microvast in the 2nd quarter valued at about $141,000. Institutional investors own 20.72% of the company’s stock.

Wall Street Analyst Weigh In

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

Microvast Stock Performance

Microvast stock opened at $2.35 on Friday. The firm has a market capitalization of $760.97 million, a P/E ratio of -6.18 and a beta of 2.14. The company’s 50-day moving average is $1.24 and its 200 day moving average is $0.64. Microvast Holdings, Inc. has a 1-year low of $0.15 and a 1-year high of $2.87. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.30 and a quick ratio of 0.83.

Microvast 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.