Microvast Holdings, Inc. (NASDAQ:MVST – Get Rating)'s stock price traded up 5.3% on Wednesday . The company traded as high as $2.19 and last traded at $2.19. 3,590 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 2,910,590 shares. The stock had previously closed at $2.08.
Analysts Set New Price Targets
Separately, Oppenheimer initiated coverage on shares of Microvast in a research report on Thursday, August 18th. They set an "outperform" rating and a $8.00 price objective for the company.
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The firm's fifty day simple moving average is $2.14 and its 200-day simple moving average is $2.65. The company has a quick ratio of 2.09, a current ratio of 2.45 and a debt-to-equity ratio of 0.13.
Hedge Funds Weigh In On Microvast
A number of institutional investors have recently bought and sold shares of the business. State Street Corp boosted its stake in Microvast by 310.8% during the 2nd quarter. State Street Corp now owns 3,873,622 shares of the company's stock worth $8,599,000 after purchasing an additional 2,930,690 shares during the last quarter. First Trust Advisors LP acquired a new position in Microvast in the 1st quarter valued at approximately $14,591,000. Owl Creek Asset Management L.P. raised its holdings in Microvast by 207.7% in the 3rd quarter. Owl Creek Asset Management L.P. now owns 2,768,951 shares of the company's stock valued at $5,012,000 after acquiring an additional 1,868,951 shares in the last quarter. Northern Trust Corp grew its stake in shares of Microvast by 250.8% in the second quarter. Northern Trust Corp now owns 1,601,263 shares of the company's stock worth $3,555,000 after purchasing an additional 1,144,844 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Microvast by 52.3% in the second quarter. JPMorgan Chase & Co. now owns 672,080 shares of the company's stock worth $1,491,000 after purchasing an additional 230,733 shares during the last quarter. 23.41% of the stock is owned by hedge funds and other institutional investors.About Microvast
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Microvast Holdings, Inc designs, develops, and manufactures battery systems for electric vehicles and energy storage systems. 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.
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