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

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

Analyst Upgrades and Downgrades

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

Check Out Our Latest Analysis on MVST

Institutional Trading of Microvast

Several institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in shares of Microvast in the second quarter worth approximately $28,000. AQR Capital Management LLC increased its stake in Microvast by 569.1% in the 2nd 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 bought a new stake in Microvast during the 2nd quarter valued at about $80,000. Renaissance Technologies LLC bought a new stake in Microvast during the 2nd quarter valued at about $90,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Microvast in the second quarter valued at approximately $141,000. Institutional investors own 20.72% of the company’s stock.

Microvast Trading Up 0.5 %

Shares of MVST stock traded up $0.01 during trading hours on Wednesday, reaching $2.06. 12,994,693 shares of the stock were exchanged, compared to its average volume of 18,846,086. The firm has a market capitalization of $667.06 million, a price-to-earnings ratio of -5.42 and a beta of 2.14. Microvast has a 12-month low of $0.15 and a 12-month high of $2.87. The company’s 50-day moving average price is $1.32 and its 200-day moving average price is $0.66. The company has a current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24.

Microvast Company Profile

(Get Free Report)

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.

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