Microvast (NASDAQ:MVST) Trading Down 6%

Shares of Microvast Holdings Inc (NASDAQ:MVST) dropped 6% on Thursday . The company traded as low as $8.94 and last traded at $8.97. Approximately 51,266 shares were traded during trading, a decline of 98% from the average daily volume of 2,324,786 shares. The stock had previously closed at $9.54.

Separately, Morgan Stanley initiated coverage on Microvast in a research note on Tuesday, August 3rd. They set an “underweight” rating and a $6.00 price target on the stock.

The business has a 50 day moving average of $10.15 and a two-hundred day moving average of $11.61. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.13 and a current ratio of 0.13.

Several institutional investors have recently modified their holdings of MVST. Ameritas Investment Company LLC purchased a new stake in shares of Microvast in the first quarter worth approximately $31,000. Penserra Capital Management LLC raised its stake in shares of Microvast by 16.5% in the first quarter. Penserra Capital Management LLC now owns 18,755 shares of the company’s stock worth $230,000 after purchasing an additional 2,656 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Microvast in the first quarter worth approximately $374,000. UBS Group AG raised its stake in shares of Microvast by 100.2% in the first quarter. UBS Group AG now owns 35,924 shares of the company’s stock worth $442,000 after purchasing an additional 17,980 shares during the last quarter. Finally, TIG Advisors LLC purchased a new stake in shares of Microvast in the first quarter worth approximately $652,000. 10.80% of the stock is owned by hedge funds and other institutional investors.

Microvast Company Profile (NASDAQ:MVST)

Tuscan Holdings Corp. have entered into a definitive merger agreement with Microvast Inc

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