Microvast (NASDAQ:MVST) Shares Down 4% - Here's Why

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report)'s share price fell 4% during trading on Wednesday . The stock traded as low as $3.30 and last traded at $3.36. 5,130,058 shares were traded during trading, a decline of 60% from the average session volume of 12,798,405 shares. The stock had previously closed at $3.50.

Wall Street Analyst Weigh In

Several research firms have commented on MVST. Wall Street Zen raised shares of Microvast from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. HC Wainwright reaffirmed a "buy" rating and issued a $3.00 price target on shares of Microvast in a research report on Tuesday, April 8th.

Microvast Trading Down 6.2%

The company has a market capitalization of $979.27 million, a price-to-earnings ratio of -7.00 and a beta of 2.97. The company has a 50-day moving average price of $3.54 and a 200-day moving average price of $2.41. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

Microvast (NASDAQ:MVST - Get Free Report) last issued 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. The company had revenue of $116.49 million for the quarter, compared to the consensus estimate of $104.00 million. Microvast had a negative return on equity of 10.97% and a negative net margin of 20.66%. Research analysts predict that Microvast Holdings, Inc. will post -0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Microvast

A number of institutional investors have recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft increased its stake in Microvast by 175.8% during the second quarter. Baader Bank Aktiengesellschaft now owns 104,458 shares of the company's stock valued at $370,000 after acquiring an additional 66,578 shares during the period. Goldman Sachs Group Inc. increased its stake in Microvast by 158.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,606,896 shares of the company's stock valued at $1,880,000 after acquiring an additional 986,335 shares during the period. Millennium Management LLC increased its stake in Microvast by 101.6% during 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Microvast during the first quarter valued at about $213,000. Finally, OMERS ADMINISTRATION Corp bought a new position in Microvast during the first quarter valued at about $184,000. 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.