Microvast (NASDAQ:MVST) Sets New 52-Week High - What's Next?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $3.47 and last traded at $3.11, with a volume of 53522298 shares traded. The stock had previously closed at $2.39.

Analyst Ratings Changes

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

Microvast Trading Up 2.4%

The business has a fifty day moving average price of $1.84 and a 200 day moving average price of $1.60. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.30 and a quick ratio of 0.83. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -8.89 and a beta of 2.72.

Microvast (NASDAQ:MVST - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.10. The business had revenue of $116.49 million during the quarter, compared to analyst estimates of $104.00 million. Microvast had a negative return on equity of 22.10% and a negative net margin of 30.88%. On average, equities analysts expect that Microvast Holdings, Inc. will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MVST. BNP Paribas Financial Markets acquired a new position in shares of Microvast in the fourth quarter valued at $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Microvast in the fourth quarter valued at $32,000. IMG Wealth Management Inc. acquired a new position in shares of Microvast in the fourth quarter valued at $38,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Microvast in the first quarter valued at $44,000. Finally, FNY Investment Advisers LLC acquired a new position in Microvast during the first quarter worth $45,000. 20.72% of the stock is currently owned by institutional investors and hedge funds.

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.