Microvast (NASDAQ:MVST) Stock Price Down 5.3% – Should You Sell?

Microvast Holdings, Inc. (NASDAQ:MVST)’s share price dropped 5.3% during mid-day trading on Tuesday . The company traded as low as $1.71 and last traded at $1.71. Approximately 2,983,791 shares were traded during trading, a decline of 74% from the average daily volume of 11,385,791 shares. The stock had previously closed at $1.80.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $3.00 price objective on shares of Microvast in a research note on Tuesday.

Microvast Stock Down 9.2 %

The company’s 50 day moving average price is $1.62 and its two-hundred day moving average price is $1.22. The firm has a market cap of $531.72 million, a PE ratio of -4.30 and a beta of 2.54. The company has a current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24.

Institutional Trading of Microvast

Hedge funds and other institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC purchased a new position in shares of Microvast during the 4th quarter valued at $737,000. LPL Financial LLC lifted its position in shares of 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 acquiring an additional 231,109 shares in the last quarter. Charles Schwab Investment Management Inc. purchased a new position in shares of Microvast in the fourth quarter valued at about $229,000. Bank of America Corp DE boosted its stake in shares of Microvast by 193.9% in the fourth quarter. Bank of America Corp DE now owns 112,754 shares of the company’s stock worth $233,000 after acquiring an additional 74,393 shares during the period. Finally, Wealthfront Advisers LLC purchased a new stake in shares of Microvast during the fourth quarter worth about $135,000. 20.72% of the stock is owned by hedge funds and other institutional investors.

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.