Microvast (NASDAQ:MVST) Shares Down 6.8% - Here's Why

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) dropped 6.8% on Friday . The company traded as low as $1.55 and last traded at $1.57. Approximately 2,065,728 shares traded hands during trading, a decline of 82% from the average daily volume of 11,692,482 shares. The stock had previously closed at $1.68.Analyst Upgrades and DowngradesMarketBeat Week in Review – 8/19 - 8/23Separately, HC Wainwright reissued a "buy" rating and set a $3.00 price objective on shares of Microvast in a report on Monday, November 18th.Check Out Our Latest Analysis on MicrovastMicrovast Stock Down 4.8 %Microvast vs. FREYR: Which Battery Stock Holds the Power?The company has a current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24. The stock has a 50 day simple moving average of $1.76 and a 200 day simple moving average of $0.83. The firm has a market capitalization of $518.22 million, a PE ratio of -4.21 and a beta of 2.11. Hedge Funds Weigh In On MicrovastHedge funds and other institutional investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new position in Microvast during the 4th quarter valued at $32,000. AQR Capital Management LLC increased its position in shares of Microvast by 569.1% during the second quarter. AQR Capital Management LLC now owns 109,139 shares of the company's stock valued at $50,000 after buying an additional 92,828 shares during the period. Charles Schwab Investment Management Inc. purchased a new position in shares of Microvast during the fourth quarter valued at about $229,000. Renaissance Technologies LLC bought a new position in Microvast in the second quarter worth about $90,000. Finally, Cubist Systematic Strategies LLC bought a new position in Microvast in the second quarter worth about $264,000. Institutional investors own 20.72% of the company's stock. Microvast Company Profile (Get Free Report)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.Read MoreFive stocks we like better than MicrovastConference Calls and Individual InvestorsIBM’s AI Bet Pays Off—What’s Next for Investors?What Are Dividend Challengers?3 Reasons to Treat AMD's Drop as an Entry OpportunityHow to Plot Fibonacci Price Inflection Levels Qualcomm’s Post-Earnings Dip: A Prime Buying Opportunity?This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Where Should You Invest $1,000 Right Now?Before you make your next trade, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.They believe these five stocks are the five best companies for investors to buy now...See The Five Stocks Here Should You Invest $1,000 in Microvast Right Now?Before you consider Microvast, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Microvast wasn't on the list.While Microvast currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here