Microvast (NASDAQ:MVST) Shares Gap Up – Should You Buy?

Microvast Holdings, Inc. (NASDAQ:MVST)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $1.50, but opened at $1.55. Microvast shares last traded at $1.57, with a volume of 3,437,308 shares trading hands.

Wall Street Analysts Forecast Growth

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

Microvast Trading Up 0.7 %

The business’s fifty day moving average price is $1.70 and its 200 day moving average price is $0.80. 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 capitalization of $489.07 million, a PE ratio of -3.97 and a beta of 2.14.

Institutional Trading of Microvast

Hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings 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 during the last quarter. Renaissance Technologies LLC purchased a new position in Microvast during the second quarter worth about $90,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Microvast in the 2nd quarter worth about $264,000. 20.72% of the stock is owned by hedge funds and other institutional investors.

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.