Microvast Holdings, Inc. (NASDAQ:MVST) Short Interest Update

Microvast Holdings, Inc. (NASDAQ:MVST) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 13,940,000 shares, a decline of 22.4% from the December 15th total of 17,960,000 shares. Based on an average trading volume of 32,040,000 shares, the days-to-cover ratio is currently 0.4 days. Currently, 7.8% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

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

Microvast Stock Performance

MVST stock traded down $0.10 during trading on Friday, hitting $2.06. The company had a trading volume of 11,330,603 shares, compared to its average volume of 17,351,961. The firm has a 50-day moving average price of $1.39 and a 200-day moving average price of $0.68. 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 cap of $667.07 million, a PE ratio of -5.42 and a beta of 2.14. Microvast has a 1-year low of $0.15 and a 1-year high of $2.87.

Institutional Inflows and Outflows

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