Microvast Holdings, Inc. (NASDAQ:MVST) Stake Lessened by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. decreased its position in shares of Microvast Holdings, Inc. (NASDAQ:MVST) by 42.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,331 shares of the company’s stock after selling 132,500 shares during the period. Point72 Asia Singapore Pte. Ltd. owned 0.06% of Microvast worth $44,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new stake in shares of Microvast in the 2nd quarter worth $28,000. AQR Capital Management LLC grew its holdings in 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 acquiring an additional 92,828 shares during the period. XTX Topco Ltd bought a new stake in Microvast in the second quarter worth about $80,000. Renaissance Technologies LLC acquired a new stake in Microvast in the 2nd quarter valued at about $90,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Microvast by 67.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 265,317 shares of the company’s stock valued at $223,000 after acquiring an additional 107,116 shares during the last quarter. 20.72% of the stock is currently owned by institutional investors and hedge funds.

Microvast Stock Up 5.1 %

Shares of Microvast stock opened at $1.24 on Friday. Microvast Holdings, Inc. has a 12-month low of $0.15 and a 12-month high of $1.95. The firm has a market capitalization of $401.54 million, a PE ratio of -3.26 and a beta of 2.54. The company has a quick ratio of 0.83, a current ratio of 1.30 and a debt-to-equity ratio of 0.24. The stock’s fifty day moving average is $0.44 and its 200-day moving average is $0.39.

Analysts Set New Price Targets

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

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.