Microvast (NASDAQ:MVST) Reaches New 52-Week High – Should You Buy?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) reached a new 52-week high on Monday . The stock traded as high as $2.85 and last traded at $2.80, with a volume of 18373343 shares. The stock had previously closed at $2.45.

Analysts Set New Price Targets

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

Microvast Stock Up 12.2 %

The firm’s fifty day moving average price is $0.84 and its 200-day moving average price is $0.51. The company has a market capitalization of $890.49 million, a price-to-earnings ratio of -7.24 and a beta of 2.54. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.30 and a quick ratio of 0.83.

Institutional Investors Weigh In On Microvast

Several institutional investors and hedge funds have recently made changes to their positions in MVST. Cubist Systematic Strategies LLC bought a new position in shares of Microvast in the 2nd quarter worth $264,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Microvast in the 2nd quarter valued at about $141,000. Renaissance Technologies LLC bought a new stake in Microvast during the second quarter worth $90,000. XTX Topco Ltd bought a new position in Microvast during the second quarter valued at about $80,000. Finally, AQR Capital Management LLC increased its stake 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 worth $50,000 after purchasing an additional 92,828 shares during the last quarter. Institutional investors 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.