Stock Traders Buy Large Volume of Microvast Call Options (NASDAQ:MVST)

Microvast Holdings, Inc. (NASDAQ:MVST) saw some unusual options trading on Friday. Stock traders bought 24,642 call options on the company. This represents an increase of 324% compared to the typical volume of 5,810 call options.

Microvast Price Performance

Shares of NASDAQ:MVST traded up $0.67 during midday trading on Friday, hitting $2.54. The company’s stock had a trading volume of 54,737,596 shares, compared to its average volume of 18,422,074. Microvast has a 12-month low of $0.15 and a 12-month high of $2.87. The company has a market cap of $822.49 million, a P/E ratio of -6.68 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 business’s 50 day simple moving average is $1.20 and its 200 day simple moving average is $0.62.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MVST. Point72 DIFC Ltd purchased a new stake in Microvast in the second quarter valued at $28,000. AQR Capital Management LLC lifted its position 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. XTX Topco Ltd purchased a new position in Microvast during the second quarter worth about $80,000. Renaissance Technologies LLC acquired a new stake in shares of Microvast during the second quarter valued at about $90,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Microvast in the 2nd quarter valued at approximately $141,000. 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.