Microvast (NASDAQ:MVST) Shares Gap Down – Should You Sell?

Microvast Holdings, Inc. (NASDAQ:MVST)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $2.14, but opened at $2.06. Microvast shares last traded at $2.02, with a volume of 3,171,401 shares changing hands.

Wall Street Analyst Weigh In

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

Microvast Price Performance

The business’s 50-day moving average price is $1.51 and its 200 day moving average price is $0.72. The company has a market capitalization of $652.50 million, a P/E ratio of -5.30 and a beta of 2.14. The company has a quick ratio of 0.83, a current ratio of 1.30 and a debt-to-equity ratio of 0.24.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MVST. Point72 DIFC Ltd bought a new stake in Microvast during the second quarter valued at $28,000. AQR Capital Management LLC boosted its position in shares of Microvast by 569.1% during the 2nd quarter. AQR Capital Management LLC now owns 109,139 shares of the company’s stock valued at $50,000 after acquiring an additional 92,828 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Microvast during the second quarter worth about $80,000. Renaissance Technologies LLC bought a new position in shares of Microvast in the second quarter worth approximately $90,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Microvast in the second quarter valued at approximately $141,000. 20.72% of the stock is currently owned by hedge funds and other 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.