Microvast (NASDAQ:MVST) Sets New 52-Week High - Time to Buy?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $4.47 and last traded at $4.34, with a volume of 2102033 shares traded. The stock had previously closed at $4.05.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MVST. Wall Street Zen raised Microvast from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. HC Wainwright reaffirmed a "buy" rating and set a $3.00 price objective on shares of Microvast in a research note on Tuesday, April 8th.

Microvast Trading Up 10.2%

The company has a current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.45 billion, a PE ratio of -11.78 and a beta of 3.02. The firm has a 50 day simple moving average of $2.80 and a 200 day simple moving average of $2.08.

Microvast (NASDAQ:MVST - Get Free Report) last announced its 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. Microvast had a negative return on equity of 22.10% and a negative net margin of 30.88%. The firm had revenue of $116.49 million during the quarter, compared to analysts' expectations of $104.00 million. Equities analysts expect that Microvast Holdings, Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC boosted its holdings in shares of Microvast by 101.6% in the first quarter. Millennium Management LLC now owns 4,646,060 shares of the company's stock valued at $5,436,000 after acquiring an additional 2,341,637 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings 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 buying an additional 986,335 shares during the period. Squarepoint Ops LLC purchased a new stake in Microvast during the fourth quarter valued at about $737,000. LPL Financial LLC raised its stake in shares of Microvast by 559.0% in the 4th quarter. LPL Financial LLC now owns 272,455 shares of the company's stock valued at $564,000 after acquiring an additional 231,109 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Microvast during the first quarter worth about $213,000. 20.72% of the stock is currently 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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