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

Microvast Holdings, Inc. (NASDAQ:MVST) gapped down prior to trading on Monday . The stock had previously closed at $2.35, but opened at $2.18. Microvast shares last traded at $1.97, with a volume of 4,321,416 shares trading hands.

Analysts Set New Price Targets

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

Microvast Stock Down 15.1 %

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 $646.01 million, a P/E ratio of -5.25 and a beta of 2.14. The business has a fifty day moving average of $1.24 and a 200 day moving average of $0.64.

Hedge Funds Weigh In On Microvast

A number of large investors have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in shares of Microvast in the second quarter valued at about $80,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Microvast during the 2nd quarter worth approximately $141,000. AQR Capital Management LLC raised its stake in shares of 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 purchasing an additional 92,828 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Microvast during the second quarter worth $264,000. Finally, Point72 DIFC Ltd bought a new position in shares of Microvast in the 2nd quarter valued at about $28,000. Institutional investors 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.