Microvast (NASDAQ:MVST) Shares Gap Up – Still a Buy?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) gapped up before the market opened on Thursday . The stock had previously closed at $2.07, but opened at $2.25. Microvast shares last traded at $2.43, with a volume of 6,256,585 shares changing hands.

Wall Street Analyst Weigh In

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

Microvast Trading Up 15.0 %

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 stock has a 50-day moving average of $0.97 and a two-hundred day moving average of $0.55. The company has a market cap of $770.68 million, a P/E ratio of -6.26 and a beta of 2.54.

Hedge Funds Weigh In On Microvast

A number of hedge funds have recently bought and sold shares of the company. XTX Topco Ltd purchased a new position in Microvast in the second quarter worth about $80,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Microvast in the 2nd quarter worth approximately $141,000. AQR Capital Management LLC lifted its position in Microvast by 569.1% in 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 in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Microvast during the 2nd quarter valued at $264,000. Finally, Point72 DIFC Ltd purchased a new stake in Microvast during the 2nd quarter valued at $28,000. 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.