Microvast (NASDAQ:MVST) Hits New 12-Month High - Here's Why

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The company traded as high as $3.60 and last traded at $3.59, with a volume of 15621255 shares traded. The stock had previously closed at $3.38.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a "buy" rating and issued a $3.00 target price on shares of Microvast in a research report on Tuesday, April 8th.

Microvast Stock Up 6.2%

The stock has a 50-day moving average of $1.89 and a two-hundred day moving average of $1.64. The company has a market cap of $1.17 billion, a P/E ratio of -9.45 and a beta of 2.72. 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 (NASDAQ:MVST - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.10. The business 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%. On average, research analysts anticipate that Microvast Holdings, Inc. will post -0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Microvast

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new position in Microvast in the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. purchased a new position in Microvast in the 4th quarter worth approximately $32,000. IMG Wealth Management Inc. purchased a new position in Microvast in the 4th quarter worth approximately $38,000. Prudential Financial Inc. purchased a new position in shares of Microvast during the fourth quarter valued at approximately $55,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Microvast during the fourth quarter valued at approximately $73,000. 20.72% of the stock is owned by hedge funds and other institutional investors.

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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