Microvast (NASDAQ:MVST) Trading 6.3% Higher – Should You Buy?

Microvast Holdings, Inc. (NASDAQ:MVST) shares were up 6.3% during trading on Monday . The stock traded as high as $1.57 and last traded at $1.61. Approximately 3,336,465 shares traded hands during trading, a decline of 74% from the average daily volume of 13,031,645 shares. The stock had previously closed at $1.51.

Wall Street Analyst Weigh In

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

Microvast Price Performance

The company has a market cap of $534.42 million, a PE ratio of -4.34 and a beta of 2.11. The stock has a fifty day simple moving average of $1.73 and a two-hundred day simple moving average of $0.82. 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

A number of large investors have recently made changes to their positions in MVST. AQR Capital Management LLC grew its position in 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 buying an additional 92,828 shares during the period. Renaissance Technologies LLC purchased a new position in Microvast in the 2nd quarter valued at approximately $90,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Microvast in the 2nd quarter valued at approximately $264,000. Hedge funds and other institutional investors own 20.72% of the company’s stock.

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.