Microvast (NASDAQ:MVST) Stock Price Down 9.8%

Microvast Holdings, Inc. (NASDAQ:MVSTGet Rating) shares traded down 9.8% on Tuesday . The company traded as low as $3.78 and last traded at $3.78. 29,944 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 1,078,652 shares. The stock had previously closed at $4.19.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Microvast from a “sell” rating to a “hold” rating in a research note on Friday, April 22nd. Morgan Stanley dropped their price target on Microvast from $6.00 to $4.00 and set an “underweight” rating on the stock in a research note on Friday, April 1st.

The company has a current ratio of 4.02, a quick ratio of 3.72 and a debt-to-equity ratio of 0.11. The firm has a 50-day simple moving average of $6.30 and a two-hundred day simple moving average of $6.78.

A number of hedge funds have recently bought and sold shares of the business. Privium Fund Management B.V. bought a new position in Microvast during the 1st quarter worth $292,000. Swiss National Bank increased its position in Microvast by 7.5% during the 1st quarter. Swiss National Bank now owns 319,800 shares of the company’s stock worth $2,143,000 after buying an additional 22,200 shares during the period. Advisor Group Holdings Inc. increased its position in Microvast by 33.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 9,680 shares of the company’s stock worth $65,000 after buying an additional 2,425 shares during the period. Sciencast Management LP bought a new position in Microvast during the 1st quarter worth $119,000. Finally, Norges Bank bought a new position in Microvast during the 4th quarter worth $11,320,000. Hedge funds and other institutional investors own 32.20% of the company’s stock.

Microvast Company Profile (NASDAQ:MVST)

Microvast Holdings, Inc designs, develops, and manufactures battery systems for electric vehicles and energy storage systems. 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.

See Also

Receive News & Ratings for Microvast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microvast and related companies with MarketBeat.com's FREE daily email newsletter.