Microvast (NASDAQ:MVST) Stock Price Up 7.8% – Should You Buy?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) rose 7.8% on Wednesday . The stock traded as high as $2.39 and last traded at $2.41. Approximately 4,067,704 shares changed hands during trading, a decline of 62% from the average daily volume of 10,803,302 shares. The stock had previously closed at $2.23.

Analyst Upgrades and Downgrades

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

Microvast Price Performance

The company has a market cap of $744.95 million, a P/E ratio of -6.05 and a beta of 2.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 1.30. The stock has a 50-day simple moving average of $1.89 and a 200 day simple moving average of $0.92.

Hedge Funds Weigh In On Microvast

Hedge funds and other institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC bought a new stake in Microvast during the 4th quarter worth approximately $737,000. Bank of America Corp DE grew its holdings in Microvast by 193.9% during the fourth quarter. Bank of America Corp DE now owns 112,754 shares of the company’s stock worth $233,000 after purchasing an additional 74,393 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Microvast during the 4th quarter worth approximately $25,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Microvast in the fourth quarter valued at about $73,000. Finally, XTX Topco Ltd lifted its position in Microvast by 38.4% during the fourth quarter. XTX Topco Ltd now owns 119,066 shares of the company’s stock worth $246,000 after acquiring an additional 33,016 shares during the last quarter. 20.72% of the stock is owned by 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.