Vanguard Group Inc. Buys 1,017,706 Shares of Microvast Holdings, Inc. (NASDAQ:MVST)

Vanguard Group Inc. grew its holdings in shares of Microvast Holdings, Inc. (NASDAQ:MVST) by 8.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,516,126 shares of the company’s stock after purchasing an additional 1,017,706 shares during the quarter. Vanguard Group Inc. owned approximately 3.95% of Microvast worth $23,655,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quadrature Capital Ltd purchased a new stake in shares of Microvast during the 3rd quarter valued at about $52,000. Graham Capital Management L.P. increased its position in shares of Microvast by 556.3% during the 3rd quarter. Graham Capital Management L.P. now owns 160,412 shares of the company’s stock valued at $303,000 after purchasing an additional 135,971 shares during the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of Microvast during the 3rd quarter valued at about $2,376,000. Aigen Investment Management LP purchased a new stake in shares of Microvast during the 3rd quarter valued at about $41,000. Finally, Jump Financial LLC purchased a new stake in shares of Microvast during the 3rd quarter valued at about $212,000. Hedge funds and other institutional investors own 20.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MVST shares. Oppenheimer reduced their price target on shares of Microvast from $8.00 to $4.00 and set an “outperform” rating for the company in a research report on Tuesday, April 2nd. HC Wainwright reduced their target price on shares of Microvast from $8.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Finally, Janney Montgomery Scott reissued a “neutral” rating and issued a $3.00 target price (down from $11.00) on shares of Microvast in a report on Tuesday, April 2nd.

Microvast Stock Performance

Microvast stock opened at $0.52 on Friday. The firm has a 50 day moving average of $0.75 and a 200 day moving average of $1.10. The firm has a market capitalization of $163.36 million, a price-to-earnings ratio of -1.51 and a beta of 1.47. Microvast Holdings, Inc. has a 12-month low of $0.45 and a 12-month high of $2.91. The company has a current ratio of 1.05, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15.

About Microvast

Microvast Holdings, Inc provides battery technologies for electric vehicles and energy storage solutions. It delivers cutting-edge battery systems that empower a sustainable future. The company offers a range of cell chemistries, such as lithium titanate oxide, lithium iron phosphate, and nickel manganese cobalt version 1 and 2.