Microvast (NASDAQ:MVST) Shares Gap Down – Here’s What Happened

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) gapped down before the market opened on Tuesday . The stock had previously closed at $1.48, but opened at $1.40. Microvast shares last traded at $1.56, with a volume of 3,648,335 shares changing hands.

Analyst Ratings Changes

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

Microvast Stock Performance

The company has a market cap of $489.08 million, a PE ratio of -3.97 and a beta of 2.11. 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 business’s 50 day moving average is $1.97 and its two-hundred day moving average is $1.01.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets purchased a new stake in Microvast during the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new position in Microvast during the fourth quarter valued at $32,000. IMG Wealth Management Inc. purchased a new position in Microvast during the fourth quarter valued at $38,000. Prudential Financial Inc. bought a new stake in Microvast in the 4th quarter valued at $55,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Microvast in the 4th quarter worth $73,000. 20.72% of the stock is owned by hedge funds and other institutional investors.

Microvast Company Profile

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.