Microvast (NASDAQ:MVST) Reaches New 1-Year High – Here’s Why

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) reached a new 52-week high during trading on Friday . The stock traded as high as $2.87 and last traded at $2.55, with a volume of 32745365 shares traded. The stock had previously closed at $1.87.

Analyst Upgrades and Downgrades

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

Microvast Stock Performance

The company has a market capitalization of $862.97 million, a PE ratio of -7.01 and a beta of 2.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 1.30. The stock’s fifty day simple moving average is $1.20 and its 200-day simple moving average is $0.62.

Institutional Investors Weigh In On Microvast

Several hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new position in shares of Microvast during the second quarter worth about $264,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Microvast in the 2nd quarter worth about $141,000. Renaissance Technologies LLC acquired a new stake in shares of Microvast in the 2nd quarter valued at about $90,000. XTX Topco Ltd bought a new position in shares of Microvast during the second quarter worth about $80,000. Finally, AQR Capital Management LLC increased 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 last quarter. 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.