Microvast (NASDAQ:MVST) Trading Down 5% – Should You Sell?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) dropped 5% during trading on Thursday . The company traded as low as $1.99 and last traded at $1.98. Approximately 893,582 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 14,701,788 shares. The stock had previously closed at $2.08.

Analyst Ratings Changes

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

Microvast Stock Performance

The firm has a market capitalization of $660.59 million, a P/E ratio of -5.38 and a beta of 2.14. The company has a 50-day simple moving average of $1.53 and a two-hundred day simple moving average of $0.73. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 1.30.

Institutional Investors Weigh In On Microvast

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new stake in shares of Microvast during the 2nd quarter valued at $28,000. AQR Capital Management LLC grew 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 purchasing an additional 92,828 shares during the period. XTX Topco Ltd bought a new position in shares of Microvast during the second quarter valued at approximately $80,000. Renaissance Technologies LLC bought a new position in shares of Microvast during the second quarter valued at approximately $90,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Microvast during the second quarter valued at approximately $141,000. 20.72% of the stock is owned by hedge funds and other institutional investors.

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.