Microvast (NASDAQ:MVST) Sees Unusually-High Trading Volume – Here’s What Happened

Microvast Holdings, Inc. (NASDAQ:MVST) saw unusually-strong trading volume on Friday . Approximately 9,170,215 shares traded hands during mid-day trading, a decline of 11% from the previous session’s volume of 10,249,376 shares.The stock last traded at $2.64 and had previously closed at $2.55.

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 Price Performance

The firm has a 50-day simple moving average of $0.80 and a two-hundred day simple moving average of $0.50. The company has a market capitalization of $786.87 million, a price-to-earnings ratio of -6.39 and a beta of 2.54. The company has a current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24.

Hedge Funds Weigh In On Microvast

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 DIFC Ltd acquired a new stake in Microvast during the second quarter worth $28,000. Cubist Systematic Strategies LLC purchased a new position in Microvast during the 2nd quarter valued at about $264,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Microvast in the 2nd quarter valued at about $141,000. AQR Capital Management LLC lifted its position 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 worth $50,000 after purchasing an additional 92,828 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Microvast in the second quarter valued at approximately $80,000. 20.72% of the stock is owned by hedge funds and other institutional investors.

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.