State Street Corp Sells 74,000 Shares of Microvast Holdings, Inc. (NASDAQ:MVST)

State Street Corp lessened its holdings in Microvast Holdings, Inc. (NASDAQ:MVST) by 8.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 819,004 shares of the company’s stock after selling 74,000 shares during the quarter. State Street Corp owned 0.25% of Microvast worth $204,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Cubist Systematic Strategies LLC bought a new stake in shares of Microvast in the 2nd quarter worth about $264,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Microvast in the 2nd quarter worth about $141,000. Renaissance Technologies LLC bought a new stake in shares of Microvast in the 2nd quarter worth about $90,000. XTX Topco Ltd bought a new stake in shares of Microvast in the 2nd quarter worth about $80,000. Finally, AQR Capital Management LLC grew its holdings in Microvast by 569.1% during the 2nd quarter. AQR Capital Management LLC now owns 109,139 shares of the company’s stock worth $50,000 after acquiring an additional 92,828 shares during the last quarter. Institutional investors own 20.72% of the company’s stock.

Analyst Upgrades and Downgrades

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

Microvast Stock Performance

Shares of NASDAQ:MVST opened at $2.39 on Friday. The company has a market capitalization of $773.92 million, a price-to-earnings ratio of -6.29 and a beta of 2.54. The firm’s 50 day simple moving average is $1.06 and its 200 day simple moving average is $0.58. 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 Holdings, Inc. has a fifty-two week low of $0.15 and a fifty-two week high of $2.86.

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.