Microvast (NASDAQ:MVST) Stock Price Up 7.8% – Time to Buy?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) rose 7.8% during mid-day trading on Wednesday . The company traded as high as $2.39 and last traded at $2.41. Approximately 4,067,704 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 10,803,302 shares. The stock had previously closed at $2.23.

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 research note on Monday, November 18th.

Microvast Price Performance

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 company has a market capitalization of $631.59 million, a P/E ratio of -5.13 and a beta of 2.11. The business has a 50 day simple moving average of $1.94 and a 200-day simple moving average of $0.95.

Institutional Investors Weigh In On Microvast

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new stake in shares of Microvast during the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Microvast during the fourth quarter valued at about $32,000. IMG Wealth Management Inc. bought a new stake in shares of Microvast during the fourth quarter valued at about $38,000. Prudential Financial Inc. bought a new stake in shares of Microvast during the fourth quarter valued at about $55,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Microvast during the fourth quarter valued at about $73,000. 20.72% of the stock is currently owned by 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.