Microvast (NASDAQ:MVST) Price Target Cut to $2.00 by Analysts at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald cut Microvast’s price target to $2.00 but maintained an “overweight” rating; the target implies 223.89% upside from the share price at the time of the report.
• Analyst views are mixed: ratings overall average “Hold,” with an average price target of $3.00; other opinions range from Buy to Sell.
• Microvast reported a quarterly loss of $0.20 per share, missing the $0.02 consensus estimate, while revenue of $45.81 million fell short of the $80.25 million forecast.

Microvast (NASDAQ:MVST - Get Free Report) had its target price reduced by stock analysts at Cantor Fitzgerald to $2.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Cantor Fitzgerald's price objective suggests a potential upside of 223.89% from the stock's current price.

Other equities analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Microvast in a research report on Wednesday, November 4th. Zacks Research raised shares of Microvast from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Finally, HC Wainwright decreased their price target on shares of Microvast to $4.00 and set a "buy" rating on the stock in a research report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $3.00.

Microvast Price Performance

Shares of NASDAQ:MVST opened at $0.62 on Tuesday. The company has a market cap of $238.31 million, a price-to-earnings ratio of -30.88 and a beta of 3.72. The business has a 50 day moving average price of $0.61 and a 200 day moving average price of $1.33. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.03. Microvast has a twelve month low of $0.47 and a twelve month high of $5.30.

Microvast (NASDAQ:MVST - Get Free Report) last issued its quarterly earnings results on Monday, November 9th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.22). Microvast had a negative return on equity of 10.34% and a net margin of 13.95%. The business had revenue of $45.81 million during the quarter, compared to the consensus estimate of $80.25 million. Research analysts predict that Microvast will post -0.05 earnings per share for the current year.

Institutional Investors Weigh In On Microvast

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Microvast in the 2nd quarter valued at $19,348,000. Legal & General Group Plc bought a new position in shares of Microvast during the 2nd quarter worth about $9,687,000. Dimensional Fund Advisors LP boosted its position in shares of Microvast by 125.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,363,006 shares of the company's stock valued at $3,542,000 after acquiring an additional 1,314,060 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Microvast during the 2nd quarter valued at about $780,000. Finally, Bank of America Corp DE increased its stake in Microvast by 26.3% in the first quarter. Bank of America Corp DE now owns 454,004 shares of the company's stock valued at $681,000 after acquiring an additional 94,553 shares during the period. Institutional investors and hedge funds own 20.72% of the company's stock.

Microvast Company Profile

Microvast Holdings, Inc develops and manufactures lithium-ion battery technologies and energy storage solutions. The company offers battery cells, modules and packs, along with related battery components and systems designed for commercial vehicles, specialty vehicles, passenger vehicles and stationary energy storage applications.

Microvast emphasizes a vertically integrated approach that spans battery materials, cell development, manufacturing and system integration. Its product portfolio includes battery technologies based on different chemistries and form factors, allowing it to serve applications with varying requirements for energy density, power, safety, charging performance and operating life.

Founded in 2006 and headquartered in Stafford, Texas, Microvast serves customers in the United States, Europe and Asia.

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