Shares of Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) fell 4% during trading on Wednesday . The company traded as low as $3.30 and last traded at $3.36. 5,130,058 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 12,798,405 shares. The stock had previously closed at $3.50.
Analysts Set New Price Targets
Several analysts have commented on MVST shares. Wall Street Zen upgraded shares of Microvast from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. HC Wainwright reiterated a "buy" rating and set a $3.00 target price on shares of Microvast in a research report on Tuesday, April 8th.
Check Out Our Latest Report on MVST
Microvast Stock Down 6.2%
The company has a market cap of $979.27 million, a price-to-earnings ratio of -7.00 and a beta of 2.97. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.32. The firm's fifty day moving average price is $3.54 and its 200-day moving average price is $2.42.
Microvast (NASDAQ:MVST - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.10. Microvast had a negative net margin of 20.66% and a negative return on equity of 10.97%. The company had revenue of $116.49 million during the quarter, compared to analyst estimates of $104.00 million. Sell-side analysts predict that Microvast Holdings, Inc. will post -0.3 earnings per share for the current year.
Institutional Investors Weigh In On Microvast
Institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its position in Microvast by 101.6% during the 1st quarter. Millennium Management LLC now owns 4,646,060 shares of the company's stock worth $5,436,000 after buying an additional 2,341,637 shares in the last quarter. Goldman Sachs Group Inc. grew 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 buying an additional 986,335 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Microvast in the 4th quarter valued at about $737,000. LPL Financial LLC grew its stake in 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 buying an additional 231,109 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Microvast during the 1st quarter worth approximately $213,000. 20.72% of the stock is owned by institutional investors.
Microvast Company Profile
(
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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