Microvast (NASDAQ:MVST) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Microvast from a "Buy" to a "Hold" while Weiss Ratings reaffirmed a "Sell (D-)," leaving the consensus rating at Hold with a $3.00 target price.
• Shares opened at $1.60 (down 3.6%), trade in a 52-week range of $1.09–$7.12 with a $531M market cap, and the company reported negative EPS (‑$0.11 last quarter) with analysts expecting about ‑0.3 EPS for the fiscal year.
• Insider director Yixin Pan sold 12,596 shares (reducing her stake ~8.8%) and insiders own 44.8% of shares, while major institutions including Vanguard, Millennium, Goldman and JPMorgan have recently increased their stakes.

Microvast (NASDAQ:MVST - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Microvast in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Microvast currently has a consensus rating of "Hold" and a consensus target price of $3.00.

Microvast Stock Down 3.6%

Shares of NASDAQ MVST opened at $1.60 on Friday. Microvast has a 52-week low of $1.09 and a 52-week high of $7.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.60 and a current ratio of 0.92. The business has a fifty day moving average of $2.45 and a two-hundred day moving average of $3.39. The stock has a market cap of $531.25 million, a PE ratio of -6.96 and a beta of 3.39.

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

Insider Activity at Microvast

In other news, Director Yixin Pan sold 12,596 shares of the firm's stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $2.76, for a total value of $34,764.96. Following the completion of the sale, the director directly owned 130,739 shares in the company, valued at approximately $360,839.64. This trade represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 44.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MVST. Vanguard Group Inc. boosted its stake in shares of Microvast by 14.6% in the 3rd 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 last quarter. Geode Capital Management LLC raised 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 worth $13,561,000 after buying an additional 212,228 shares during the last quarter. Millennium Management LLC lifted its holdings in Microvast by 101.6% in the first quarter. Millennium Management LLC now owns 4,646,060 shares of the company's stock valued at $5,436,000 after buying an additional 2,341,637 shares during the period. Goldman Sachs Group Inc. boosted its stake in Microvast by 31.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,859,317 shares of the company's stock valued at $10,806,000 after acquiring an additional 927,013 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Microvast by 680,832.5% in the second quarter. JPMorgan Chase & Co. now owns 3,118,671 shares of the company's stock valued at $11,321,000 after acquiring an additional 3,118,213 shares during the last quarter. Institutional investors and hedge funds own 20.72% of the company's stock.

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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