Microvast (NASDAQ:MVST - Get Free Report) posted its quarterly earnings data on Monday. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.10, Zacks reports. The company had revenue of $116.49 million during the quarter, compared to the consensus estimate of $104.00 million. Microvast had a negative net margin of 30.88% and a negative return on equity of 22.10%.
Microvast Stock Up 2.4%
Shares of NASDAQ:MVST traded up $0.08 during midday trading on Friday, hitting $3.38. The stock had a trading volume of 10,938,653 shares, compared to its average volume of 12,101,796. The company has a market cap of $1.10 billion, a P/E ratio of -8.89 and a beta of 2.72. Microvast has a 12 month low of $0.15 and a 12 month high of $3.47. The business's 50-day simple moving average is $1.84 and its 200-day simple moving average is $1.61. The company has a quick ratio of 0.83, a current ratio of 1.30 and a debt-to-equity ratio of 0.24.
Institutional Trading of Microvast
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Microvast during the 1st quarter worth about $213,000. Goldman Sachs Group Inc. lifted its stake in Microvast by 158.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,606,896 shares of the company's stock valued at $1,880,000 after purchasing an additional 986,335 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Microvast by 101.6% during the first quarter. Millennium Management LLC now owns 4,646,060 shares of the company's stock worth $5,436,000 after purchasing an additional 2,341,637 shares during the period. 20.72% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Separately, HC Wainwright reissued a "buy" rating and set a $3.00 price target on shares of Microvast in a research report on Tuesday, April 8th.
View Our Latest Analysis on MVST
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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