Millennium Management LLC Has $4.77 Million Stock Holdings in Microvast Holdings, Inc. (NASDAQ:MVST)

Millennium Management LLC trimmed its position in shares of Microvast Holdings, Inc. (NASDAQ:MVST - Free Report) by 19.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,304,423 shares of the company's stock after selling 553,816 shares during the period. Millennium Management LLC owned about 0.71% of Microvast worth $4,770,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MVST. Bank of America Corp DE grew its position in Microvast by 193.9% in the fourth quarter. Bank of America Corp DE now owns 112,754 shares of the company's stock worth $233,000 after acquiring an additional 74,393 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Microvast in the fourth quarter worth $25,000. Schonfeld Strategic Advisors LLC acquired a new position in Microvast during the fourth quarter worth $73,000. XTX Topco Ltd boosted its stake in shares of Microvast by 38.4% during the 4th quarter. XTX Topco Ltd now owns 119,066 shares of the company's stock worth $246,000 after acquiring an additional 33,016 shares in the last quarter. Finally, ExodusPoint Capital Management LP acquired a new position in shares of Microvast during the 4th quarter valued at about $78,000. 20.72% of the stock is currently owned by hedge funds and other institutional investors.

Microvast Stock Performance

MVST stock traded down $0.17 during midday trading on Friday, hitting $3.61. The stock had a trading volume of 5,654,873 shares, compared to its average volume of 12,332,966. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -9.50 and a beta of 2.72. The company has a current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24. The stock has a 50-day simple moving average of $2.32 and a 200 day simple moving average of $1.84. Microvast Holdings, Inc. has a 52 week low of $0.15 and a 52 week high of $4.32.

Microvast (NASDAQ:MVST - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.10. The firm had revenue of $116.49 million for the quarter, compared to analysts' expectations of $104.00 million. Microvast had a negative return on equity of 22.10% and a negative net margin of 30.88%. As a group, equities research analysts anticipate that Microvast Holdings, Inc. will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MVST. HC Wainwright restated a "buy" rating and issued a $3.00 price objective on shares of Microvast in a research note on Tuesday, April 8th. Wall Street Zen upgraded shares of Microvast from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd.

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.