Microvast (NASDAQ:MVST) Sets New 12-Month High – Here’s What Happened

Microvast Holdings, Inc. (NASDAQ:MVST)’s share price reached a new 52-week high on Friday . The stock traded as high as $2.87 and last traded at $2.55, with a volume of 32745365 shares changing hands. The stock had previously closed at $1.87.

Analysts Set New Price Targets

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

Microvast Stock Performance

The company has a current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24. The company’s fifty day moving average is $1.24 and its 200 day moving average is $0.64. The company has a market cap of $760.97 million, a P/E ratio of -6.18 and a beta of 2.14.

Institutional Investors Weigh In On Microvast

A number of large investors have recently added to or reduced their stakes in MVST. Renaissance Technologies LLC bought a new stake in Microvast in the 2nd quarter worth $90,000. XTX Topco Ltd bought a new stake in Microvast in the 2nd quarter worth $80,000. Point72 DIFC Ltd bought a new stake in Microvast in the 2nd quarter worth $28,000. Cubist Systematic Strategies LLC bought a new stake in Microvast in the 2nd quarter worth $264,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Microvast in the 2nd quarter worth $141,000. Institutional investors own 20.72% of the company’s stock.

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.