Microvast (NASDAQ:MVST) Shares Up 7.8% – Should You Buy?

Microvast Holdings, Inc. (NASDAQ:MVST)’s share price rose 7.8% during mid-day trading on Wednesday . The stock traded as high as $2.39 and last traded at $2.41. Approximately 4,067,704 shares changed hands during trading, a decline of 62% from the average daily volume of 10,803,302 shares. The stock had previously closed at $2.23.

Wall Street Analyst Weigh In

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

Microvast Trading Up 3.1 %

The firm has a fifty day moving average price of $1.89 and a 200-day moving average price of $0.92. 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 company has a market capitalization of $744.95 million, a P/E ratio of -6.05 and a beta of 2.11.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE increased its stake in Microvast by 193.9% in the 4th quarter. Bank of America Corp DE now owns 112,754 shares of the company’s stock worth $233,000 after purchasing an additional 74,393 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of Microvast in the fourth quarter worth $25,000. Squarepoint Ops LLC purchased a new position in Microvast in the 4th quarter worth approximately $737,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Microvast during the 4th quarter valued at about $73,000. Finally, XTX Topco Ltd increased its position in Microvast by 38.4% during the fourth quarter. XTX Topco Ltd now owns 119,066 shares of the company’s stock valued at $246,000 after acquiring an additional 33,016 shares during the last quarter. Hedge funds and other institutional investors own 20.72% of the company’s stock.

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.