Microvast (NASDAQ:MVST) Shares Down 3.3% – Should You Sell?

Microvast Holdings, Inc. (NASDAQ:MVST)’s share price dropped 3.3% during trading on Friday . The company traded as low as $2.30 and last traded at $2.33. Approximately 1,511,186 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 8,781,854 shares. The stock had previously closed at $2.41.

Wall Street Analysts Forecast Growth

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

Microvast Price Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 1.30. The business has a fifty day moving average of $1.01 and a 200-day moving average of $0.56. The firm has a market capitalization of $816.01 million, a P/E ratio of -6.63 and a beta of 2.54.

Institutional Investors Weigh In On Microvast

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

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.