Traders Buy Large Volume of Call Options on Microvast (NASDAQ:MVST)

Microvast Holdings, Inc. (NASDAQ:MVST) was the target of unusually large options trading activity on Thursday. Stock traders bought 5,205 call options on the company. This represents an increase of 54% compared to the typical daily volume of 3,374 call options.

Hedge Funds Weigh In On Microvast

A number of hedge funds have recently made changes to their positions in the business. Point72 DIFC Ltd acquired a new position in Microvast in the second quarter worth about $28,000. AQR Capital Management LLC grew its stake in shares of Microvast by 569.1% in the 2nd quarter. AQR Capital Management LLC now owns 109,139 shares of the company’s stock valued at $50,000 after purchasing an additional 92,828 shares during the period. XTX Topco Ltd acquired a new position in shares of Microvast in the 2nd quarter worth approximately $80,000. Renaissance Technologies LLC acquired a new stake in Microvast in the 2nd quarter valued at $90,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Microvast in the second quarter valued at $141,000. Institutional investors and hedge funds own 20.72% of the company’s stock.

Analyst Upgrades and Downgrades

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

Microvast Stock Up 16.2 %

Shares of Microvast stock traded up $0.19 during midday trading on Thursday, reaching $1.34. 11,293,681 shares of the company’s stock traded hands, compared to its average volume of 9,902,534. Microvast has a 52 week low of $0.15 and a 52 week high of $1.95. The company’s 50 day simple moving average is $0.60 and its 200 day simple moving average is $0.44. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 1.30. The company has a market cap of $432.55 million, a price-to-earnings ratio of -3.52 and a beta of 2.54.

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.