Bank of America Corp DE Grows Stock Holdings in Microvast Holdings, Inc. (NASDAQ:MVST)

Bank of America Corp DE grew its position in Microvast Holdings, Inc. (NASDAQ:MVST - Free Report) by 193.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm 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.

Other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Microvast during the 4th quarter valued at about $32,000. Prudential Financial Inc. acquired a new stake in shares of Microvast during the 4th quarter valued at about $55,000. LPL Financial LLC grew its position in shares of Microvast by 559.0% during the 4th quarter. LPL Financial LLC now owns 272,455 shares of the company's stock valued at $564,000 after acquiring an additional 231,109 shares during the period. Charles Schwab Investment Management Inc. acquired a new stake in shares of Microvast during the 4th quarter valued at about $229,000. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Microvast during the 4th quarter valued at about $135,000. 20.72% of the stock is owned by hedge funds and other institutional investors.

Microvast Price Performance

MVST stock traded down $0.04 during trading on Wednesday, hitting $4.33. The stock had a trading volume of 6,170,784 shares, compared to its average volume of 12,533,343. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.94. Microvast Holdings, Inc. has a twelve month low of $0.15 and a twelve month high of $4.72. The stock has a market capitalization of $1.41 billion, a P/E ratio of -10.07 and a beta of 3.02. The company's 50-day moving average price is $2.96 and its two-hundred day moving average price is $2.14.

Microvast (NASDAQ:MVST - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.10. Microvast had a negative return on equity of 10.97% and a negative net margin of 20.66%. The company had revenue of $116.49 million for the quarter, compared to analysts' expectations of $104.00 million. As a group, research analysts predict that Microvast Holdings, Inc. will post -0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MVST shares. HC Wainwright reiterated a "buy" rating and issued a $3.00 price objective on shares of Microvast in a report on Tuesday, April 8th. Wall Street Zen upgraded Microvast from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd.

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.