Mirae Asset Global Investments Co. Ltd. Reduces Stake in Microvast Holdings, Inc. (NASDAQ:MVST)

Mirae Asset Global Investments Co. Ltd. lessened its position in shares of Microvast Holdings, Inc. (NASDAQ:MVST) by 7.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,728,918 shares of the company’s stock after selling 321,372 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Microvast were worth $5,220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC increased its holdings in Microvast by 284.6% during the 4th quarter. SG Americas Securities LLC now owns 113,675 shares of the company’s stock worth $159,000 after acquiring an additional 84,122 shares during the period. Vanguard Group Inc. increased its holdings in Microvast by 8.9% during the 3rd quarter. Vanguard Group Inc. now owns 12,516,126 shares of the company’s stock worth $23,655,000 after acquiring an additional 1,017,706 shares during the period. American Century Companies Inc. increased its holdings in Microvast by 159.1% during the 3rd quarter. American Century Companies Inc. now owns 108,466 shares of the company’s stock worth $205,000 after acquiring an additional 66,606 shares during the period. Graham Capital Management L.P. increased its holdings in Microvast by 556.3% during the 3rd quarter. Graham Capital Management L.P. now owns 160,412 shares of the company’s stock worth $303,000 after acquiring an additional 135,971 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in Microvast during the 3rd quarter worth approximately $83,000. Institutional investors own 20.72% of the company’s stock.

Microvast Trading Down 5.7 %

Shares of NASDAQ:MVST opened at $0.49 on Tuesday. The company’s fifty day moving average price is $0.74 and its 200-day moving average price is $1.08. Microvast Holdings, Inc. has a one year low of $0.45 and a one year high of $2.91. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.05 and a quick ratio of 0.68.

Analyst Ratings Changes

A number of research firms recently weighed in on MVST. Oppenheimer decreased their target price on shares of Microvast from $8.00 to $4.00 and set an “outperform” rating on the stock in a report on Tuesday, April 2nd. HC Wainwright decreased their price target on shares of Microvast from $8.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Finally, Janney Montgomery Scott reissued a “neutral” rating and issued a $3.00 price target (down previously from $11.00) on shares of Microvast in a report on Tuesday, April 2nd.

About Microvast

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.