Microvast Target of Unusually Large Options Trading (NASDAQ:MVST)

Microvast Holdings, Inc. (NASDAQ:MVST) was the target of unusually large options trading on Wednesday. Stock investors purchased 37,657 call options on the company. This is an increase of 10,105% compared to the typical volume of 369 call options.

Hedge Funds Weigh In On Microvast

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MVST. Point72 DIFC Ltd bought a new position in Microvast in the 2nd quarter worth approximately $28,000. Keynote Financial Services LLC bought a new position in Microvast in the 1st quarter worth approximately $40,000. AQR Capital Management LLC lifted its position in Microvast by 569.1% in the second quarter. AQR Capital Management LLC now owns 109,139 shares of the company’s stock worth $50,000 after purchasing an additional 92,828 shares during the period. XTX Topco Ltd acquired a new stake in Microvast in the second quarter worth approximately $80,000. Finally, Renaissance Technologies LLC acquired a new stake in Microvast in the second quarter worth approximately $90,000. 20.72% of the stock is owned by institutional investors.

Microvast Stock Performance

MVST stock traded down $0.02 on Thursday, reaching $0.78. The company’s stock had a trading volume of 172,086,594 shares, compared to its average volume of 9,072,802. Microvast has a 52 week low of $0.15 and a 52 week high of $1.55. The company has a market capitalization of $246.60 million, a P/E ratio of -2.09 and a beta of 1.72. The firm has a fifty day moving average of $0.24 and a two-hundred day moving average of $0.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.12 and a quick ratio of 0.71.

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.