Microvast (NASDAQ:MVST) Stock Price Down 9% – Time to Sell?

Microvast Holdings, Inc. (NASDAQ:MVST)’s share price fell 9% on Friday . The stock traded as low as $1.94 and last traded at $1.97. 4,273,624 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 10,599,907 shares. The stock had previously closed at $2.16.

Wall Street Analyst Weigh In

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

Microvast Trading Down 9.7 %

The company has a quick ratio of 0.83, a current ratio of 1.30 and a debt-to-equity ratio of 0.24. The company has a market cap of $631.59 million, a P/E ratio of -5.13 and a beta of 2.11. The firm’s 50 day moving average is $1.94 and its two-hundred day moving average is $0.95.

Hedge Funds Weigh In On Microvast

Several hedge funds and other institutional investors have recently bought and sold shares of MVST. Squarepoint Ops LLC acquired a new position in Microvast in the fourth quarter valued at $737,000. LPL Financial LLC lifted its holdings in Microvast by 559.0% in the fourth quarter. LPL Financial LLC now owns 272,455 shares of the company’s stock valued at $564,000 after buying an additional 231,109 shares during the period. Charles Schwab Investment Management Inc. acquired a new position in Microvast in the fourth quarter valued at $229,000. Bank of America Corp DE lifted its holdings in Microvast by 193.9% in the fourth quarter. Bank of America Corp DE now owns 112,754 shares of the company’s stock valued at $233,000 after buying an additional 74,393 shares during the period. Finally, Wealthfront Advisers LLC acquired a new position in Microvast in the fourth quarter valued at $135,000. Institutional investors and hedge funds own 20.72% of the company’s stock.

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.