Shares of Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $3.47 and last traded at $3.11, with a volume of 53522298 shares. The stock had previously closed at $2.39.
Analysts Set New Price Targets
Separately, 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.
Read Our Latest Analysis on Microvast
Microvast Stock Down 1.6%
The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -8.75 and a beta of 2.72. The firm has a 50 day simple moving average of $1.84 and a 200-day simple moving average of $1.62. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.30 and a quick ratio of 0.83.
Microvast (NASDAQ:MVST - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.10. The firm had revenue of $116.49 million during the quarter, compared to analysts' expectations of $104.00 million. Microvast had a negative net margin of 30.88% and a negative return on equity of 22.10%. On average, sell-side analysts forecast that Microvast Holdings, Inc. will post -0.3 EPS for the current fiscal year.
Institutional Investors Weigh In On Microvast
Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets acquired a new stake in Microvast during the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. acquired a new position in Microvast during the 4th quarter worth approximately $32,000. IMG Wealth Management Inc. bought a new position in shares of Microvast in the 4th quarter valued at $38,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of Microvast during the first quarter valued at about $44,000. Finally, FNY Investment Advisers LLC bought a new stake in Microvast during the 1st quarter worth approximately $45,000. Institutional investors own 20.72% of the company's stock.
About Microvast
(
Get Free Report)
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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