Cookson Peirce & Co. Inc. Makes New Investment in Microvast Holdings, Inc. $MVST

Key Points

• Cookson Peirce & Co. Inc. has acquired a new position in Microvast Holdings, Inc., purchasing 258,375 shares valued at approximately $938,000 during the second quarter.
• Recent analyst ratings reflect mixed sentiments, with Weiss Ratings issuing a "sell (d-)" and Zacks Research downgrading Microvast from a "strong-buy" to a "hold" rating.
• Microvast reported a negative net margin of 26.82% for the most recent quarter, despite beating earnings expectations with $0.05 EPS compared to a consensus estimate of $0.01.

Cookson Peirce & Co. Inc. bought a new position in Microvast Holdings, Inc. (NASDAQ:MVST - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 258,375 shares of the company's stock, valued at approximately $938,000. Cookson Peirce & Co. Inc. owned about 0.08% of Microvast as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Baader Bank Aktiengesellschaft purchased a new position in shares of Microvast during the first quarter valued at approximately $44,000. Rathbones Group PLC purchased a new position in shares of Microvast during the first quarter valued at approximately $53,000. Deutsche Bank AG purchased a new position in shares of Microvast during the first quarter valued at approximately $58,000. SBI Securities Co. Ltd. raised its holdings in shares of Microvast by 351.7% during the first quarter. SBI Securities Co. Ltd. now owns 69,989 shares of the company's stock valued at $82,000 after purchasing an additional 54,496 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Microvast during the first quarter valued at approximately $120,000. 20.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on MVST. Weiss Ratings reissued a "sell (d-)" rating on shares of Microvast in a report on Wednesday, October 8th. Zacks Research cut shares of Microvast from a "strong-buy" rating to a "hold" rating in a report on Monday, October 13th. Finally, Wall Street Zen lowered shares of Microvast from a "buy" rating to a "hold" rating in a research report on Saturday, October 18th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Microvast currently has a consensus rating of "Hold" and an average target price of $3.00.

Microvast Stock Performance

Shares of NASDAQ MVST opened at $5.35 on Thursday. The firm has a 50 day moving average of $3.73 and a 200 day moving average of $3.28. The company has a current ratio of 0.83, a quick ratio of 0.56 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -10.49 and a beta of 3.22. Microvast Holdings, Inc. has a 12-month low of $0.15 and a 12-month high of $7.12.

Microvast (NASDAQ:MVST - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $91.34 million during the quarter, compared to analyst estimates of $106.79 million. Microvast had a negative net margin of 26.82% and a positive return on equity of 10.32%. Microvast has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Microvast Holdings, Inc. will post -0.3 earnings per share for the current year.

Microvast Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.