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

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) gapped up prior to trading on Thursday . The stock had previously closed at $2.07, but opened at $2.25. Microvast shares last traded at $2.43, with a volume of 6,256,585 shares trading hands.

Wall Street Analysts Forecast Growth

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

Microvast Stock Performance

The stock has a 50-day moving average price of $1.06 and a 200 day moving average price of $0.58. 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 firm has a market capitalization of $773.92 million, a price-to-earnings ratio of -6.29 and a beta of 2.54.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new position in Microvast in the second quarter valued at approximately $264,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Microvast during the second quarter worth about $141,000. Renaissance Technologies LLC acquired a new stake in shares of Microvast during the second quarter worth about $90,000. XTX Topco Ltd purchased a new stake in shares of Microvast in the 2nd quarter valued at about $80,000. Finally, AQR Capital Management LLC lifted its stake in Microvast by 569.1% in the second quarter. AQR Capital Management LLC now owns 109,139 shares of the company’s stock valued at $50,000 after buying an additional 92,828 shares during the last quarter. Hedge funds and other institutional investors 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.