Microvast (NASDAQ:MVST) Reaches New 52-Week High – What’s Next?

Microvast Holdings, Inc. (NASDAQ:MVST) hit a new 52-week high on Tuesday . The company traded as high as $2.03 and last traded at $1.91, with a volume of 30683146 shares changing hands. The stock had previously closed at $1.53.

Analysts Set New Price Targets

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

Microvast Price Performance

The company has a market cap of $592.58 million, a PE ratio of -4.82 and a beta of 2.54. 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 stock’s 50-day moving average is $0.75 and its 200 day moving average is $0.48.

Institutional Trading of Microvast

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new stake in Microvast in the 2nd quarter valued at $264,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Microvast during the 2nd quarter valued at about $141,000. Renaissance Technologies LLC purchased a new stake in shares of Microvast in the second quarter valued at about $90,000. XTX Topco Ltd acquired a new stake in Microvast during the second quarter worth about $80,000. Finally, AQR Capital Management LLC raised its stake in Microvast by 569.1% during the second quarter. AQR Capital Management LLC now owns 109,139 shares of the company’s stock worth $50,000 after purchasing an additional 92,828 shares during the period. Institutional investors and hedge funds own 20.72% of the company’s stock.

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.