Geode Capital Management LLC Raises Holdings in Microvast Holdings, Inc. $MVST

Key Points

• Geode Capital boosted its stake in Microvast by 117.3% in Q2 to 4,635,584 shares (about 1.42% of the company) worth $16.83 million, and other institutions including Millennium and Goldman Sachs also materially increased positions, leaving institutional ownership at roughly 20.72%.
• Microvast reported Q last quarter EPS of $0.04 (missed estimates), revenue of $123.29 million (beat estimates), and a negative net margin of 28.81%, while the stock trades around $3.52 with a $1.16 billion market cap and a consensus analyst rating of Hold with a $3.00 price target.

Geode Capital Management LLC increased its position in Microvast Holdings, Inc. (NASDAQ:MVST - Free Report) by 117.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,635,584 shares of the company's stock after acquiring an additional 2,502,565 shares during the quarter. Geode Capital Management LLC owned about 1.42% of Microvast worth $16,830,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC boosted its position in Microvast by 101.6% during the first quarter. Millennium Management LLC now owns 4,646,060 shares of the company's stock worth $5,436,000 after purchasing an additional 2,341,637 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Microvast by 158.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,606,896 shares of the company's stock valued at $1,880,000 after buying an additional 986,335 shares in the last quarter. Cookson Peirce & Co. Inc. bought a new position in Microvast in the 2nd quarter worth approximately $938,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Microvast in the 2nd quarter valued at approximately $847,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Microvast in the 1st quarter valued at approximately $213,000. 20.72% of the stock is currently owned by institutional investors.

Microvast Stock Performance

Shares of NASDAQ MVST opened at $3.52 on Monday. The stock's 50-day moving average is $4.58 and its 200 day moving average is $3.77. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -6.52 and a beta of 3.40. Microvast Holdings, Inc. has a 1-year low of $0.75 and a 1-year high of $7.12. The company has a current ratio of 0.84, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21.

Microvast (NASDAQ:MVST - Get Free Report) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.01). The business had revenue of $123.29 million during the quarter, compared to analysts' expectations of $120.02 million. Microvast had a negative net margin of 28.81% and a positive return on equity of 11.34%. Microvast has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Microvast Holdings, Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MVST. Weiss Ratings reiterated a "sell (d-)" rating on shares of Microvast in a research report on Wednesday. Wall Street Zen upgraded Microvast from a "hold" rating to a "buy" rating in a research report on Sunday, November 16th. Finally, Zacks Research downgraded shares of Microvast from a "strong-buy" rating to a "hold" rating in a report on Monday, October 13th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Microvast has an average rating of "Hold" and a consensus price target of $3.00.

Microvast Company 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.

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