Microvast (NASDAQ:MVST) Shares Gap Up – What’s Next?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) gapped up before the market opened on Friday . The stock had previously closed at $1.50, but opened at $1.55. Microvast shares last traded at $1.57, with a volume of 3,437,308 shares traded.

Analyst Ratings Changes

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

Microvast Stock Performance

The company has a market capitalization of $503.00 million, a price-to-earnings ratio of -4.12 and a beta of 2.14. 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 50 day simple moving average of $1.68 and a 200 day simple moving average of $0.79.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new position in shares of Microvast in the 2nd quarter valued at $28,000. Cubist Systematic Strategies LLC purchased a new position in shares of Microvast during the 2nd quarter valued at $264,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Microvast in the second quarter valued at about $141,000. AQR Capital Management LLC increased its position 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 purchasing an additional 92,828 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Microvast during the 2nd quarter worth about $90,000. Institutional investors and hedge funds own 20.72% of the company’s stock.

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.