Microvast (NASDAQ:MVST) Trading Down 8.2% – Here’s Why

Microvast Holdings, Inc. (NASDAQ:MVST)’s stock price traded down 8.2% during trading on Wednesday . The stock traded as low as $1.76 and last traded at $1.74. 3,246,210 shares were traded during trading, a decline of 76% from the average session volume of 13,561,107 shares. The stock had previously closed at $1.89.

Wall Street Analyst Weigh In

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

Microvast Trading Down 12.4 %

The company’s 50 day moving average price is $1.64 and its 200 day moving average price is $0.77. The firm has a market cap of $535.92 million, a PE ratio of -4.36 and a beta of 2.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.30 and a quick ratio of 0.83.

Hedge Funds Weigh In On Microvast

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new position in shares of Microvast during the second quarter worth about $80,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Microvast during the second quarter worth approximately $141,000. 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. Cubist Systematic Strategies LLC acquired a new stake in shares of Microvast in the second quarter valued at approximately $264,000. Finally, Point72 DIFC Ltd purchased a new position in Microvast during the 2nd quarter worth $28,000. 20.72% of the stock is 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.