Point72 Asia Singapore Pte. Ltd. Purchases Shares of 308,831 Microvast Holdings, Inc. (NASDAQ:MVST)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Microvast Holdings, Inc. (NASDAQ:MVST) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 308,831 shares of the company’s stock, valued at approximately $141,000.

Other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC boosted 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 worth $50,000 after acquiring an additional 92,828 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Microvast during the second quarter worth approximately $264,000. Point72 DIFC Ltd bought a new position in shares of Microvast in the 2nd quarter worth $28,000. XTX Topco Ltd acquired a new stake in Microvast in the 2nd quarter valued at $80,000. Finally, Renaissance Technologies LLC bought a new stake in Microvast during the 2nd quarter valued at $90,000. Institutional investors own 20.72% of the company’s stock.

Microvast Price Performance

Microvast stock opened at $0.23 on Friday. The firm has a market capitalization of $72.96 million, a price-to-earnings ratio of -0.72 and a beta of 1.70. The firm’s fifty day moving average price is $0.30 and its two-hundred day moving average price is $0.41. Microvast Holdings, Inc. has a 1-year low of $0.18 and a 1-year high of $1.88. The company has a current ratio of 1.12, a quick ratio of 0.71 and a debt-to-equity ratio of 0.19.

Microvast (NASDAQ:MVST) last announced its quarterly earnings results on Friday, August 9th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.17). The business had revenue of $83.68 million during the quarter, compared to the consensus estimate of $90.71 million. Microvast had a negative net margin of 44.02% and a negative return on equity of 28.29%. On average, equities research analysts predict that Microvast Holdings, Inc. will post -0.23 earnings per share for the current fiscal year.

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.