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

Microvast Holdings, Inc. (NASDAQ:MVST) was the recipient of unusually large options trading on Friday. Traders purchased 24,642 call options on the stock. This is an increase of approximately 324% compared to the average volume of 5,810 call options.

Microvast Stock Up 35.8 %

NASDAQ:MVST traded up $0.67 during mid-day trading on Friday, hitting $2.54. The stock had a trading volume of 54,737,596 shares, compared to its average volume of 18,422,074. Microvast has a twelve month low of $0.15 and a twelve month high of $2.87. The stock has a 50-day simple moving average of $1.20 and a two-hundred day simple moving average of $0.62. 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 has a market capitalization of $822.49 million, a PE ratio of -6.68 and a beta of 2.14.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Microvast

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

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.