HC Wainwright Reiterates Buy Rating for Microvast (NASDAQ:MVST)

Microvast (NASDAQ:MVST)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They currently have a $3.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 380.08% from the stock’s previous close.

Microvast Price Performance

NASDAQ MVST opened at $0.62 on Monday. Microvast has a fifty-two week low of $0.15 and a fifty-two week high of $1.55. The stock has a market capitalization of $202.35 million, a PE ratio of -1.64 and a beta of 1.72. 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 business has a fifty day moving average price of $0.27 and a two-hundred day moving average price of $0.34.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Point72 DIFC Ltd bought a new position in shares of Microvast in the 2nd quarter valued at $28,000. Cubist Systematic Strategies LLC bought a new position in shares of Microvast in the 2nd quarter valued at $264,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Microvast in the 2nd quarter valued at $141,000. AQR Capital Management LLC lifted its stake 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. Finally, XTX Topco Ltd bought a new position in shares of Microvast in the 2nd quarter valued at $80,000. 20.72% of the stock is currently owned by 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.