Cornerstone Investment Partners LLC Buys Shares of 125,586 Microvast Holdings, Inc. (NASDAQ:MVST)

Cornerstone Investment Partners LLC bought a new position in shares of Microvast Holdings, Inc. (NASDAQ:MVST) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 125,586 shares of the company’s stock, valued at approximately $176,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased 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 buying an additional 2,930,690 shares during the period. First Trust Advisors LP purchased a new position in shares of Microvast in the 1st quarter valued at about $14,591,000. Millennium Management LLC increased its holdings in shares of Microvast by 199.6% in the 4th quarter. Millennium Management LLC now owns 2,490,907 shares of the company’s stock valued at $3,811,000 after purchasing an additional 1,659,484 shares in the last quarter. Norges Bank purchased a new position in Microvast during the 4th quarter valued at about $2,295,000. Finally, UniSuper Management Pty Ltd acquired a new stake in shares of Microvast during the 3rd quarter worth about $2,376,000. Hedge funds and other institutional investors own 20.72% of the company’s stock.

Microvast Stock Up 1.4 %

Shares of NASDAQ:MVST opened at $0.50 on Friday. The firm’s 50 day simple moving average is $0.71 and its 200 day simple moving average is $1.05. The company has a current ratio of 1.05, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15. Microvast Holdings, Inc. has a fifty-two week low of $0.45 and a fifty-two week high of $2.91.

Analyst Upgrades and Downgrades

Several research firms recently commented on MVST. HC Wainwright cut their price target on shares of Microvast from $8.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Oppenheimer dropped their price target on shares of Microvast from $8.00 to $4.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 2nd. Finally, Janney Montgomery Scott reiterated a “neutral” rating and issued a $3.00 target price (down from $11.00) on shares of Microvast in a report on Tuesday, April 2nd.

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.