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

Millennium Management LLC cut its holdings in Microvast Holdings, Inc. (NASDAQ:MVST - Free Report) by 19.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,304,423 shares of the company's stock after selling 553,816 shares during the quarter. Millennium Management LLC owned about 0.71% of Microvast worth $4,770,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in Microvast in the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new stake in Microvast in the fourth quarter valued at approximately $32,000. IMG Wealth Management Inc. acquired a new stake in Microvast in the fourth quarter valued at approximately $38,000. Prudential Financial Inc. acquired a new stake in Microvast in the fourth quarter valued at approximately $55,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Microvast in the fourth quarter valued at approximately $73,000. 20.72% of the stock is currently owned by institutional investors and hedge funds.

Microvast Stock Performance

Shares of Microvast stock traded down $0.02 on Monday, reaching $3.57. The stock had a trading volume of 4,787,027 shares, compared to its average volume of 12,341,690. The business's 50-day moving average price is $2.37 and its two-hundred day moving average price is $1.88. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 1.30. Microvast Holdings, Inc. has a fifty-two week low of $0.15 and a fifty-two week high of $4.32. The stock has a market cap of $1.16 billion, a P/E ratio of -9.39 and a beta of 2.72.

Microvast (NASDAQ:MVST - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $0.06 earnings per share for the quarter, topping 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 business had revenue of $116.49 million during the quarter, compared to analysts' expectations of $104.00 million. On average, sell-side analysts forecast that Microvast Holdings, Inc. will post -0.3 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on MVST shares. HC Wainwright reiterated a "buy" rating and issued a $3.00 target price 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 research note 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.