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

Microvast Holdings, Inc. (NASDAQ:MVST) shares saw strong trading volume on Friday . 12,239,129 shares changed hands during trading, an increase of 23% from the previous session’s volume of 9,968,985 shares.The stock last traded at $1.62 and had previously closed at $1.50.

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 report on Monday, November 18th.

Microvast Stock Performance

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 50-day moving average price of $0.63 and a two-hundred day moving average price of $0.44. The firm has a market cap of $475.94 million, a PE ratio of -3.87 and a beta of 2.54.

Institutional Investors Weigh In On Microvast

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd purchased a new stake in shares of Microvast in the second quarter valued at about $28,000. AQR Capital Management LLC grew its stake in shares of Microvast by 569.1% in the 2nd quarter. AQR Capital Management LLC now owns 109,139 shares of the company’s stock valued at $50,000 after buying an additional 92,828 shares during the period. XTX Topco Ltd acquired a new stake in shares of Microvast during the 2nd quarter worth approximately $80,000. Renaissance Technologies LLC purchased a new stake in shares of Microvast during the 2nd quarter valued at approximately $90,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Microvast in the second quarter valued at approximately $141,000. Institutional investors and hedge funds 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.