Microvast (NASDAQ:MVST) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Microvast (NASDAQ:MVST) in a research report released on Monday morning,Benzinga reports. The firm currently has a $3.00 target price on the stock.

Microvast Stock Performance

NASDAQ:MVST opened at $0.59 on Monday. Microvast has a 1-year low of $0.15 and a 1-year high of $1.55. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.30 and a quick ratio of 0.83. The business has a 50 day moving average of $0.29 and a 200 day moving average of $0.35. The company has a market capitalization of $192.32 million, a price-to-earnings ratio of -1.56 and a beta of 1.72.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MVST. Vanguard Group Inc. boosted its holdings in Microvast by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 9,690,219 shares of the company’s stock valued at $8,111,000 after acquiring an additional 164,702 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of Microvast by 662.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 3,308,277 shares of the company’s stock valued at $2,769,000 after purchasing an additional 2,874,583 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Microvast in the second quarter worth approximately $264,000. Tidal Investments LLC increased its stake in shares of Microvast by 38.9% in the first quarter. Tidal Investments LLC now owns 526,931 shares of the company’s stock worth $441,000 after buying an additional 147,538 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Microvast during the 2nd quarter valued at $141,000. 20.72% of the stock is owned by 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.