Microvast Holdings, Inc. (NASDAQ:MVST) Sees Large Drop in Short Interest

Key Points

• Short interest in Microvast fell by 19.1% to 21,397,010 shares as of March 31, equal to about 11.7% of the stock and a short-interest ratio of 2.7 days.
• Large institutional investors increased positions—Vanguard, Millennium, Goldman Sachs and First Trust all boosted stakes (notably Millennium +101.6% and First Trust +4,632.7%)—and institutions now own about 20.72% of the company.
• Several analysts recently cut ratings (Wall Street Zen, Zacks, Weiss), leaving Microvast with a market consensus of "Sell".

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) saw a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 21,397,010 shares, a decrease of 19.1% from the March 15th total of 26,446,156 shares. Approximately 11.7% of the shares of the stock are short sold. Based on an average daily volume of 7,787,193 shares, the short-interest ratio is presently 2.7 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Microvast by 14.6% during the third quarter. Vanguard Group Inc. now owns 12,010,655 shares of the company's stock valued at $46,241,000 after purchasing an additional 1,533,708 shares during the period. Geode Capital Management LLC boosted its stake in shares of Microvast by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 4,842,635 shares of the company's stock valued at $13,561,000 after purchasing an additional 212,228 shares during the period. Millennium Management LLC boosted its stake in shares of Microvast by 101.6% during the first quarter. Millennium Management LLC now owns 4,646,060 shares of the company's stock valued at $5,436,000 after purchasing an additional 2,341,637 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Microvast by 31.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,859,317 shares of the company's stock valued at $10,806,000 after purchasing an additional 927,013 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of Microvast by 4,632.7% during the fourth quarter. First Trust Advisors LP now owns 2,088,304 shares of the company's stock valued at $5,847,000 after purchasing an additional 2,044,179 shares during the period. 20.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wall Street Zen cut shares of Microvast from a "buy" rating to a "hold" rating in a research report on Saturday, March 21st. Weiss Ratings restated a "sell (d-)" rating on shares of Microvast in a research report on Friday, March 27th. Finally, Zacks Research cut shares of Microvast from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 19th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat.com, Microvast currently has a consensus rating of "Sell".

Microvast Price Performance

NASDAQ MVST traded down $0.07 on Thursday, reaching $1.85. 4,201,076 shares of the company's stock traded hands, compared to its average volume of 3,196,609. Microvast has a 12 month low of $1.37 and a 12 month high of $7.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.92 and a quick ratio of 0.74. The stock has a 50-day simple moving average of $1.96 and a 200 day simple moving average of $3.17. The stock has a market cap of $614.26 million, a PE ratio of -8.04 and a beta of 3.59.

Microvast (NASDAQ:MVST - Get Free Report) last issued its quarterly earnings results on Monday, March 16th. The company reported ($0.11) EPS for the quarter. Microvast had a negative net margin of 6.83% and a positive return on equity of 2.51%. The business had revenue of $96.40 million for the quarter. As a group, research analysts predict that Microvast will post -0.3 earnings per share for the current year.

Microvast Company Profile

Microvast Holdings, Inc, traded on NASDAQ under the symbol MVST, is a global provider of advanced lithium-ion battery solutions for transportation and stationary energy storage applications. The company designs, develops and manufactures a range of battery cells, modules and packs tailored to electric buses, commercial vehicles, passenger cars and grid storage systems. Its technology emphasizes fast charging, long cycle life and high energy density to meet stringent performance requirements in demanding operating environments.

Founded in 2006, Microvast has established a vertically integrated platform that spans research and development, pilot production and full-scale manufacturing.

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