Microvast (NASDAQ:MVST) Earns “Buy” Rating from HC Wainwright

Microvast (NASDAQ:MVST)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued on Monday,Benzinga reports. They currently have a $3.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 317.59% from the company’s current price.

Microvast Trading Down 7.7 %

NASDAQ MVST opened at $0.72 on Monday. Microvast has a 52 week low of $0.15 and a 52 week high of $1.55. The firm has a 50 day moving average of $0.26 and a two-hundred day moving average of $0.34. The company has a quick ratio of 0.71, a current ratio of 1.30 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $232.63 million, a PE ratio of -1.89 and a beta of 1.72.

Hedge Funds Weigh In On Microvast

Several large investors have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. boosted its position in shares of Microvast by 662.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 3,308,277 shares of the company’s stock worth $2,769,000 after acquiring an additional 2,874,583 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Microvast in the second quarter valued at approximately $264,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Microvast in the second quarter valued at approximately $141,000. Public Employees Retirement System of Ohio acquired a new stake in Microvast during the first quarter worth approximately $195,000. Finally, Renaissance Technologies LLC acquired a new stake in Microvast during the second quarter worth approximately $90,000. Hedge funds and other institutional investors 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.