Microvast Target of Unusually High Options Trading (NASDAQ:MVST)

Microvast Holdings, Inc. (NASDAQ:MVST) saw some unusual options trading activity on Monday. Stock traders purchased 3,425 call options on the company. This represents an increase of approximately 69% compared to the typical daily volume of 2,028 call options.

Hedge Funds Weigh In On Microvast

A number of hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new position in shares of Microvast during the second quarter valued at about $264,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Microvast in the 2nd quarter valued at about $141,000. Public Employees Retirement System of Ohio bought a new position in shares of Microvast during the 1st quarter worth approximately $195,000. Renaissance Technologies LLC purchased a new position in shares of Microvast in the 2nd quarter worth approximately $90,000. Finally, XTX Topco Ltd bought a new position in shares of Microvast in the second quarter valued at approximately $80,000. 20.72% of the stock is owned by hedge funds and other institutional investors.

Microvast Stock Up 12.1 %

Shares of NASDAQ:MVST traded up $0.09 during mid-day trading on Monday, hitting $0.85. 2,610,468 shares of the company traded hands, compared to its average volume of 9,322,049. The stock has a market cap of $275.89 million, a P/E ratio of -2.24 and a beta of 1.72. The stock has a 50-day moving average price of $0.35 and a two-hundred day moving average price of $0.36. Microvast has a 12-month low of $0.15 and a 12-month high of $1.55. The company has a current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24.

Analysts Set New Price Targets

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

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.