Microvast Target of Unusually Large Options Trading (NASDAQ:MVST)

Microvast Holdings, Inc. (NASDAQ:MVST) was the recipient of some unusual options trading activity on Thursday. Stock traders bought 5,205 call options on the stock. This is an increase of approximately 54% compared to the average daily volume of 3,374 call options.

Microvast Stock Performance

Shares of MVST opened at $1.50 on Friday. Microvast has a 52 week low of $0.15 and a 52 week high of $1.95. The company has a quick ratio of 0.83, a current ratio of 1.30 and a debt-to-equity ratio of 0.24. The stock has a market cap of $485.72 million, a price-to-earnings ratio of -3.95 and a beta of 2.54. The business has a 50-day simple moving average of $0.63 and a two-hundred day simple moving average of $0.44.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Microvast

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new position in shares of Microvast in the second quarter worth approximately $28,000. AQR Capital Management LLC increased its stake in Microvast by 569.1% in the 2nd quarter. AQR Capital Management LLC now owns 109,139 shares of the company’s stock worth $50,000 after buying an additional 92,828 shares in the last quarter. XTX Topco Ltd bought a new stake in Microvast during the second quarter valued at about $80,000. Renaissance Technologies LLC purchased a new position in shares of Microvast in the second quarter valued at about $90,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Microvast in the second quarter worth about $141,000. 20.72% of the stock is 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.