Microvast (NASDAQ:MVST) Shares Gap Down – What’s Next?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) gapped down before the market opened on Wednesday . The stock had previously closed at $2.14, but opened at $2.06. Microvast shares last traded at $2.02, with a volume of 3,171,401 shares.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated 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 current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average price is $1.56 and its 200-day moving average price is $0.74.

Institutional Investors Weigh In On Microvast

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in shares of Microvast during the 2nd quarter worth about $28,000. AQR Capital Management LLC grew its stake in 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 buying an additional 92,828 shares during the period. XTX Topco Ltd acquired a new stake in shares of Microvast in the second quarter worth $80,000. Renaissance Technologies LLC purchased a new position in shares of Microvast in the 2nd quarter valued at $90,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Microvast during the 2nd quarter valued at $141,000. 20.72% of the stock is currently owned by institutional investors and hedge funds.

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.