Investors Purchase Large Volume of Microvast Call Options (NASDAQ:MVST)

Microvast Holdings, Inc. (NASDAQ:MVST) was the recipient of some unusual options trading activity on Friday. Stock investors purchased 24,642 call options on the company. This is an increase of approximately 324% compared to the average daily volume of 5,810 call options.

Wall Street Analyst Weigh In

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

Institutional Trading of Microvast

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

Microvast Stock Up 25.7 %

MVST opened at $2.35 on Friday. The firm’s fifty day moving average is $1.24 and its 200 day moving average is $0.63. Microvast has a fifty-two week low of $0.15 and a fifty-two week high of $2.87. The stock has a market cap of $760.97 million, a price-to-earnings ratio of -6.18 and a beta of 2.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 1.30.

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.