Microvast (NASDAQ:MVST) Sees Strong Trading Volume – Should You Buy?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) saw strong trading volume on Friday . 9,170,215 shares traded hands during mid-day trading, a decline of 11% from the previous session’s volume of 10,249,376 shares.The stock last traded at $2.64 and had previously closed at $2.55.

Analyst Upgrades and Downgrades

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

Microvast Price Performance

The stock has a market capitalization of $793.35 million, a PE ratio of -6.45 and a beta of 2.54. The firm’s fifty day moving average price is $0.84 and its two-hundred day moving average price is $0.51. The company has a quick ratio of 0.83, a current ratio of 1.30 and a debt-to-equity ratio of 0.24.

Hedge Funds Weigh In On Microvast

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 DIFC Ltd purchased a new position in shares of Microvast during the 2nd quarter valued at about $28,000. Cubist Systematic Strategies LLC bought a new stake in Microvast during the 2nd quarter worth approximately $264,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Microvast during the second quarter valued at approximately $141,000. AQR Capital Management LLC boosted its position in shares of 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 purchasing an additional 92,828 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Microvast in the second quarter worth $80,000. 20.72% of the stock is currently 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.