Microvast (NASDAQ:MVST) Reaches New 12-Month High - Time to Buy?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $4.32 and last traded at $4.07, with a volume of 3214463 shares. The stock had previously closed at $3.98.

Analyst Upgrades and Downgrades

A number of research firms have commented on MVST. Wall Street Zen raised shares of Microvast from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. HC Wainwright reissued a "buy" rating and issued a $3.00 price target on shares of Microvast in a research note on Tuesday, April 8th.

Microvast Stock Down 4.5%

The company has a market cap of $1.17 billion, a PE ratio of -9.50 and a beta of 2.72. The stock's 50 day moving average price is $2.32 and its 200-day moving average price is $1.84. 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 data on Monday, May 12th. The company reported $0.06 earnings per share (EPS) for the quarter, beating 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 company had revenue of $116.49 million during the quarter, compared to analysts' expectations of $104.00 million. On average, analysts predict that Microvast Holdings, Inc. will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On Microvast

A number of institutional investors have recently made changes to their positions in MVST. BNP Paribas Financial Markets purchased a new stake in Microvast during the 4th quarter valued at $25,000. SBI Securities Co. Ltd. purchased a new stake in Microvast during the 4th quarter valued at $32,000. IMG Wealth Management Inc. purchased a new stake in Microvast during the 4th quarter valued at $38,000. Prudential Financial Inc. purchased a new stake in Microvast during the 4th quarter valued at $55,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Microvast during the 4th quarter valued at $73,000. Hedge funds and other institutional investors own 20.72% of the company's stock.

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.