Bank of America Corp DE lifted its stake in shares of Microvast Holdings, Inc. (NASDAQ:MVST - Free Report) by 193.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,754 shares of the company's stock after acquiring an additional 74,393 shares during the period. Bank of America Corp DE's holdings in Microvast were worth $233,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new position in Microvast in the fourth quarter valued at $25,000. SBI Securities Co. Ltd. bought a new position in Microvast in the fourth quarter valued at $32,000. IMG Wealth Management Inc. bought a new position in Microvast in the fourth quarter valued at $38,000. Prudential Financial Inc. bought a new position in Microvast in the fourth quarter valued at $55,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in Microvast in the fourth quarter valued at $73,000. Institutional investors own 20.72% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. Wall Street Zen raised shares of Microvast from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. HC Wainwright reaffirmed a "buy" rating and issued a $3.00 target price on shares of Microvast in a research report on Tuesday, April 8th.
Get Our Latest Research Report on MVST
Microvast Stock Performance
Shares of MVST traded down $0.15 during midday trading on Friday, reaching $4.05. The stock had a trading volume of 4,550,073 shares, compared to its average volume of 12,491,090. The firm has a 50 day simple moving average of $2.80 and a 200-day simple moving average of $2.07. Microvast Holdings, Inc. has a one year low of $0.15 and a one year high of $4.32. The firm has a market cap of $1.32 billion, a PE ratio of -10.66 and a beta of 3.02. The company has a current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24.
Microvast (NASDAQ:MVST - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.10. Microvast had a negative net margin of 30.88% and a negative return on equity of 22.10%. The company had revenue of $116.49 million during the quarter, compared to the consensus estimate of $104.00 million. As a group, sell-side analysts anticipate that Microvast Holdings, Inc. will post -0.3 EPS for the current year.
About Microvast
(
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.
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