Microvast (NASDAQ:MVST) Shares Up 9% – Still a Buy?

Microvast Holdings, Inc. (NASDAQ:MVST) shares rose 9% on Wednesday . The stock traded as high as $2.24 and last traded at $2.23. Approximately 3,097,692 shares traded hands during trading, a decline of 82% from the average daily volume of 17,645,414 shares. The stock had previously closed at $2.05.

Analyst Ratings Changes

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

Microvast Stock Up 2.7 %

The stock has a market cap of $681.63 million, a price-to-earnings ratio of -5.54 and a beta of 2.14. The firm’s fifty day moving average price is $1.32 and its two-hundred day moving average price is $0.66. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.30 and a quick ratio of 0.83.

Hedge Funds Weigh In On Microvast

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC purchased a new stake in Microvast in the 2nd quarter worth approximately $264,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Microvast during the second quarter valued at approximately $141,000. Renaissance Technologies LLC bought a new stake in Microvast during the 2nd quarter valued at approximately $90,000. XTX Topco Ltd purchased a new position in shares of Microvast in the 2nd quarter valued at approximately $80,000. Finally, AQR Capital Management LLC boosted its stake in Microvast by 569.1% during the second 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 in the last quarter. 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.