Microvast’s (MVST) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Microvast (NASDAQ:MVST) in a research note published on Monday morning,Benzinga reports. They currently have a $3.00 price objective on the stock.

Microvast Stock Down 13.3 %

NASDAQ:MVST opened at $0.62 on Monday. Microvast has a 12 month low of $0.15 and a 12 month high of $1.55. The firm has a fifty day simple moving average of $0.27 and a 200-day simple moving average of $0.34. The company has a current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24.

Institutional Investors Weigh In On Microvast

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd purchased a new position in shares of Microvast during the second quarter worth $28,000. Keynote Financial Services LLC purchased a new position in Microvast in the first quarter valued at $40,000. 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 in the last quarter. XTX Topco Ltd purchased a new position in Microvast in the second quarter valued at $80,000. Finally, Renaissance Technologies LLC purchased a new position in Microvast in the second quarter valued at $90,000. 20.72% of the stock is currently owned by institutional investors and hedge funds.

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.