Microvast’s (MVST) Buy Rating Reaffirmed at HC Wainwright

Microvast (NASDAQ:MVST)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $3.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 317.59% from the company’s current price.

Microvast Stock Down 7.7 %

Shares of NASDAQ MVST opened at $0.72 on Monday. The business has a 50-day moving average price of $0.26 and a 200 day moving average price of $0.34. The stock has a market cap of $232.63 million, a PE ratio of -1.89 and a beta of 1.72. The company has a quick ratio of 0.71, a current ratio of 1.30 and a debt-to-equity ratio of 0.24. Microvast has a 52-week low of $0.15 and a 52-week high of $1.55.

Hedge Funds Weigh In On Microvast

A number of hedge funds have recently modified their holdings of MVST. Point72 DIFC Ltd acquired a new stake in Microvast during the 2nd quarter worth $28,000. Keynote Financial Services LLC purchased a new stake in shares of Microvast in the first quarter valued at about $40,000. AQR Capital Management LLC boosted its stake 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 buying an additional 92,828 shares during the period. XTX Topco Ltd purchased a new position in shares of Microvast during the second quarter worth about $80,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Microvast during the second quarter worth about $90,000. 20.72% of the stock is currently owned by hedge funds and other institutional investors.

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.