Microvast (NASDAQ:MVST) Trading Up 6.1%

Microvast Holdings Inc (NASDAQ:MVST)’s share price was up 6.1% on Thursday . The company traded as high as $8.05 and last traded at $7.96. Approximately 21,602 shares traded hands during trading, a decline of 99% from the average daily volume of 2,263,581 shares. The stock had previously closed at $7.50.

A number of analysts have recently weighed in on MVST shares. Zacks Investment Research cut Microvast from a “hold” rating to a “sell” rating in a research report on Wednesday, October 6th. Morgan Stanley started coverage on Microvast in a research report on Tuesday, August 3rd. They set an “underweight” rating and a $6.00 price target on the stock.

The business has a 50-day moving average price of $9.65 and a two-hundred day moving average price of $10.96.

A number of institutional investors and hedge funds have recently bought and sold shares of MVST. UBS Group AG increased its position in Microvast by 100.2% in the 1st quarter. UBS Group AG now owns 35,924 shares of the company’s stock valued at $442,000 after acquiring an additional 17,980 shares during the period. Penserra Capital Management LLC increased its position in Microvast by 16.5% in the 1st quarter. Penserra Capital Management LLC now owns 18,755 shares of the company’s stock valued at $230,000 after acquiring an additional 2,656 shares during the period. TIG Advisors LLC acquired a new stake in Microvast in the 1st quarter valued at approximately $652,000. Ameritas Investment Company LLC acquired a new stake in Microvast in the 1st quarter valued at approximately $31,000. Finally, Jane Street Group LLC acquired a new stake in Microvast in the 1st quarter valued at approximately $374,000. Hedge funds and other institutional investors own 10.80% of the company’s stock.

Microvast Company Profile (NASDAQ:MVST)

Tuscan Holdings Corp. have entered into a definitive merger agreement with Microvast Inc

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