Microvast Holdings, Inc. (NASDAQ:MVST) Sees Significant Decrease in Short Interest

Microvast Holdings, Inc. (NASDAQ:MVST) saw a large decline in short interest in December. As of December 31st, there was short interest totalling 13,940,000 shares, a decline of 22.4% from the December 15th total of 17,960,000 shares. Approximately 7.8% of the company’s stock are sold short. Based on an average trading volume of 32,040,000 shares, the short-interest ratio is currently 0.4 days.

Institutional Trading of Microvast

Several institutional investors have recently modified their holdings of MVST. Point72 DIFC Ltd acquired a new stake in Microvast during the 2nd quarter worth $28,000. AQR Capital Management LLC grew its holdings in shares of 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 purchasing an additional 92,828 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Microvast during the second quarter worth about $80,000. Renaissance Technologies LLC acquired a new stake in shares of Microvast during the second quarter worth about $90,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Microvast in the 2nd quarter valued at about $141,000. Hedge funds and other institutional investors own 20.72% of the company’s stock.

Microvast Stock Down 4.6 %

MVST stock traded down $0.10 during trading on Friday, hitting $2.06. 11,330,603 shares of the company’s stock were exchanged, compared to its average volume of 17,351,961. The business has a 50-day moving average price of $1.39 and a two-hundred day moving average price of $0.68. The company has a current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $667.07 million, a price-to-earnings ratio of -5.42 and a beta of 2.14. Microvast has a 52-week low of $0.15 and a 52-week high of $2.87.

Wall Street Analysts Forecast Growth

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

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.