Microvast (NASDAQ:MVST) Trading Down 8.2% – What’s Next?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) were down 8.2% on Wednesday . The company traded as low as $1.76 and last traded at $1.74. Approximately 3,246,210 shares changed hands during trading, a decline of 76% from the average daily volume of 13,561,107 shares. The stock had previously closed at $1.89.

Analyst Ratings Changes

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

Microvast Stock Down 8.3 %

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 firm’s 50-day simple moving average is $1.68 and its two-hundred day simple moving average is $0.79.

Institutional Trading of Microvast

Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new position in Microvast in the second quarter valued at about $90,000. Cubist Systematic Strategies LLC acquired a new position in Microvast in the second quarter valued at approximately $264,000. AQR Capital Management LLC lifted its holdings in Microvast by 569.1% in the second quarter. AQR Capital Management LLC now owns 109,139 shares of the company’s stock valued at $50,000 after buying an additional 92,828 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Microvast during the 2nd quarter worth $141,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Microvast during the 2nd quarter valued at $28,000. Institutional investors and hedge funds 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.