Microvast (NASDAQ:MVST) Shares Down 4% - Should You Sell?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) dropped 4% on Wednesday . The stock traded as low as $3.30 and last traded at $3.36. Approximately 5,130,058 shares traded hands during 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 Analyst Weigh In

MVST has been the topic of several recent analyst reports. HC Wainwright reiterated a "buy" rating and set a $3.00 price objective on shares of Microvast in a report on Tuesday, April 8th. Wall Street Zen upgraded shares of Microvast from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd.

Microvast Trading Down 4.8%

The stock has a market capitalization of $993.92 million, a price-to-earnings ratio of -7.10 and a beta of 2.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.94. The business's 50-day simple moving average is $3.52 and its two-hundred day simple moving average is $2.40.

Microvast (NASDAQ:MVST - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.10. The firm had revenue of $116.49 million for the quarter, compared to analysts' expectations of $104.00 million. Microvast had a negative net margin of 20.66% and a negative return on equity of 10.97%. On average, research analysts anticipate that Microvast Holdings, Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new position in shares of Microvast during the fourth quarter worth $32,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Microvast during the fourth quarter worth $229,000. Wealthfront Advisers LLC acquired a new position in shares of Microvast during the fourth quarter worth $135,000. IMG Wealth Management Inc. acquired a new position in shares of Microvast during the fourth quarter worth $38,000. Finally, LPL Financial LLC lifted its position in shares of Microvast by 559.0% during the fourth quarter. LPL Financial LLC now owns 272,455 shares of the company's stock worth $564,000 after purchasing an additional 231,109 shares in the last quarter. 20.72% of the stock is owned by institutional investors and hedge funds.

About Microvast

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.