Microvast Holdings, Inc. (NASDAQ:MVST) Sees Significant Decrease in Short Interest

Microvast Holdings, Inc. (NASDAQ:MVST) was the recipient of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 13,940,000 shares, a decline of 22.4% from the December 15th total of 17,960,000 shares. Approximately 7.8% of the shares of the company are sold short. Based on an average daily volume of 32,040,000 shares, the days-to-cover ratio is currently 0.4 days.

Microvast Stock Performance

Shares of MVST traded down $0.10 during mid-day trading on Friday, hitting $2.06. The company’s stock had a trading volume of 11,330,603 shares, compared to its average volume of 17,351,961. Microvast has a one year low of $0.15 and a one year high of $2.87. 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 $667.07 million, a PE ratio of -5.42 and a beta of 2.14. The stock’s 50-day moving average is $1.39 and its two-hundred day moving average is $0.68.

Institutional Investors Weigh In On Microvast

Several hedge funds have recently modified their holdings of MVST. Cubist Systematic Strategies LLC bought a new stake in shares of Microvast in the second quarter valued at approximately $264,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Microvast in the second quarter valued at approximately $141,000. Renaissance Technologies LLC acquired a new position in shares of Microvast in the second quarter valued at $90,000. XTX Topco Ltd acquired a new position in shares of Microvast in the second quarter valued at $80,000. Finally, AQR Capital Management LLC raised its stake in shares of 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 purchasing an additional 92,828 shares in the last quarter. 20.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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.