Microvast (NASDAQ:MVST) Trading 5.3% Higher

Microvast Holdings, Inc. (NASDAQ:MVSTGet Rating)’s stock price traded up 5.3% on Wednesday . The company traded as high as $2.19 and last traded at $2.19. 3,590 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 2,910,590 shares. The stock had previously closed at $2.08.

Analysts Set New Price Targets

Separately, Oppenheimer initiated coverage on shares of Microvast in a research report on Thursday, August 18th. They set an “outperform” rating and a $8.00 price objective for the company.

Microvast Price Performance

The firm’s fifty day simple moving average is $2.14 and its 200-day simple moving average is $2.65. The company has a quick ratio of 2.09, a current ratio of 2.45 and a debt-to-equity ratio of 0.13.

Hedge Funds Weigh In On Microvast

A number of institutional investors have recently bought and sold shares of the business. State Street Corp boosted its stake in Microvast by 310.8% during the 2nd quarter. State Street Corp now owns 3,873,622 shares of the company’s stock worth $8,599,000 after purchasing an additional 2,930,690 shares during the last quarter. First Trust Advisors LP acquired a new position in Microvast in the 1st quarter valued at approximately $14,591,000. Owl Creek Asset Management L.P. raised its holdings in Microvast by 207.7% in the 3rd quarter. Owl Creek Asset Management L.P. now owns 2,768,951 shares of the company’s stock valued at $5,012,000 after acquiring an additional 1,868,951 shares in the last quarter. Northern Trust Corp grew its stake in shares of Microvast by 250.8% in the second quarter. Northern Trust Corp now owns 1,601,263 shares of the company’s stock worth $3,555,000 after purchasing an additional 1,144,844 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Microvast by 52.3% in the second quarter. JPMorgan Chase & Co. now owns 672,080 shares of the company’s stock worth $1,491,000 after purchasing an additional 230,733 shares during the last quarter. 23.41% of the stock is owned by hedge funds and other institutional investors.

About Microvast

(Get Rating)

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.

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