Microvast (NASDAQ:MVST) Shares Up 7.3% – Should You Buy?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) shot up 7.3% on Friday . The company traded as high as $2.17 and last traded at $2.14. 3,259,721 shares changed hands during trading, a decline of 77% from the average session volume of 14,186,474 shares. The stock had previously closed at $1.99.

Wall Street Analysts Forecast Growth

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

Microvast Stock Performance

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 firm has a market capitalization of $717.26 million, a price-to-earnings ratio of -5.83 and a beta of 2.14. The firm’s 50-day moving average price is $1.56 and its two-hundred day moving average price is $0.74.

Institutional Trading of Microvast

A number of large investors have recently bought and sold shares of MVST. Point72 DIFC Ltd bought a new position in Microvast in the 2nd quarter valued at $28,000. AQR Capital Management LLC grew its stake in shares of 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 purchasing an additional 92,828 shares during the period. XTX Topco Ltd bought a new stake in Microvast in the second quarter valued at about $80,000. Renaissance Technologies LLC acquired a new position in shares of Microvast during the 2nd quarter worth about $90,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Microvast during the second quarter worth $141,000. 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.