Microvast (NASDAQ:MVST) Stock Price Down 9% – Time to Sell?

Microvast Holdings, Inc. (NASDAQ:MVST) shares were down 9% during trading on Friday . The stock traded as low as $1.94 and last traded at $1.97. Approximately 4,273,624 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 10,599,907 shares. The stock had previously closed at $2.16.

Analyst Ratings Changes

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

Microvast Stock Down 9.5 %

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 firm has a market capitalization of $633.20 million, a PE ratio of -5.14 and a beta of 2.11. The company’s 50 day simple moving average is $1.93 and its 200-day simple moving average is $0.94.

Institutional Trading of Microvast

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in Microvast in the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Microvast during the 4th quarter valued at $32,000. IMG Wealth Management Inc. purchased a new stake in shares of Microvast during the 4th quarter valued at $38,000. Prudential Financial Inc. purchased a new stake in shares of Microvast during the 4th quarter valued at $55,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Microvast during the 4th quarter valued at $73,000. 20.72% of the stock is currently 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.