Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report)'s stock price dropped 4% during mid-day trading on Wednesday . The company traded as low as $3.30 and last traded at $3.36. Approximately 5,130,058 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 12,798,405 shares. The stock had previously closed at $3.50.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the company. HC Wainwright reaffirmed a "buy" rating and issued a $3.00 price objective on shares of Microvast in a research report on Tuesday, April 8th. Wall Street Zen upgraded Microvast from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd.
View Our Latest Research Report on MVST
Microvast Trading Down 4.0%
The business's 50 day moving average is $3.50 and its two-hundred day moving average is $2.39. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.09 billion, a P/E ratio of -7.81 and a beta of 2.97.
Microvast (NASDAQ:MVST - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.10. Microvast had a negative return on equity of 10.97% and a negative net margin of 20.66%. The business had revenue of $116.49 million during the quarter, compared to analysts' expectations of $104.00 million. Analysts expect that Microvast Holdings, Inc. will post -0.3 EPS for the current year.
Institutional Investors Weigh In On Microvast
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new stake in shares of Microvast in the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Microvast in the 4th quarter valued at approximately $32,000. IMG Wealth Management Inc. acquired a new stake in shares of Microvast during the fourth quarter valued at about $38,000. Baader Bank Aktiengesellschaft bought a new stake in shares of Microvast in the first quarter worth $44,000. Finally, FNY Investment Advisers LLC acquired a new stake in Microvast during the 1st quarter valued at 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.
Further Reading
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