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

Posted by Charles Blunt on Jan 2nd, 2025

Microvast Holdings, Inc. (NASDAQ:MVST – Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $2.75, but opened at $2.64. Microvast shares last traded at $2.41, with a volume of 5,002,460 shares.

Wall Street Analysts Forecast Growth

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

Read Our Latest Analysis on Microvast

Microvast Price Performance

The company has a market cap of $670.30 million, a price-to-earnings ratio of -5.45 and a beta of 2.54. The company has a fifty day simple moving average of $0.93 and a two-hundred day simple moving average of $0.54. The company has a quick ratio of 0.83, a current ratio of 1.30 and a debt-to-equity ratio of 0.24.

Institutional Trading of Microvast

Several institutional investors and hedge funds have recently modified their holdings of MVST. Point72 DIFC Ltd purchased a new position in shares of Microvast during the 2nd quarter worth approximately $28,000. AQR Capital Management LLC grew its holdings in Microvast by 569.1% during the 2nd 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. XTX Topco Ltd acquired a new stake in Microvast during the 2nd quarter valued at $80,000. Renaissance Technologies LLC purchased a new position in Microvast during the second quarter worth $90,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Microvast in the second quarter worth $141,000. Hedge funds and other institutional investors own 20.72% of the company’s stock.

About Microvast

(Get Free Report)

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.