Microvast (NASDAQ:MVST) Sets New 12-Month High – Still a Buy?

Microvast Holdings, Inc. (NASDAQ:MVST)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $2.87 and last traded at $2.55, with a volume of 32745365 shares trading hands. The stock had previously closed at $1.87.

Analysts Set New Price Targets

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

Microvast Price Performance

The stock has a market capitalization of $862.97 million, a price-to-earnings ratio of -7.01 and a beta of 2.14. The business 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 quick ratio of 0.83, a current ratio of 1.30 and a debt-to-equity ratio of 0.24.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new position in shares of Microvast in the 2nd quarter worth $28,000. AQR Capital Management LLC boosted its position 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 purchasing an additional 92,828 shares during the period. XTX Topco Ltd purchased a new position in Microvast in the 2nd quarter worth about $80,000. Renaissance Technologies LLC acquired a new stake in Microvast during the 2nd quarter worth about $90,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Microvast during the second quarter valued at about $141,000. Institutional investors own 20.72% of the company’s stock.

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.