Microvast (NASDAQ:MVST) Shares Gap Down - Here's What Happened

Key Points

• Microvast shares gapped down, closing at $2.31 the prior session, opening at $1.70 and last trading around $1.77 on unusually high volume (~7.8M shares).
• Analysts are mixed with a MarketBeat consensus of Hold and a $3.00 target; Wall Street Zen cut its rating from "strong-buy" to "buy" while Weiss Ratings keeps a "sell."
• The company reported quarterly EPS of ($0.11) on $96.4M revenue with a negative net margin (-28.81%) and projected FY EPS of -0.3, while a director sold shares and insiders own about 44.8% of the stock.

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $2.31, but opened at $1.70. Microvast shares last traded at $1.7650, with a volume of 7,775,292 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MVST. Wall Street Zen downgraded shares of Microvast from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Microvast in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $3.00.

Microvast Price Performance

The company's 50 day moving average price is $2.58 and its 200 day moving average price is $3.43. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.60 and a current ratio of 0.84. The company has a market cap of $559.55 million, a price-to-earnings ratio of -3.16 and a beta of 3.39.

Microvast (NASDAQ:MVST - Get Free Report) last announced its earnings results on Monday, March 16th. The company reported ($0.11) earnings per share (EPS) for the quarter. The firm had revenue of $96.40 million for the quarter. Microvast had a positive return on equity of 11.34% and a negative net margin of 28.81%. On average, equities research analysts predict that Microvast Holdings, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Microvast

In other news, Director Yixin Pan sold 12,596 shares of Microvast stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $2.76, for a total value of $34,764.96. Following the completion of the transaction, the director owned 130,739 shares in the company, valued at approximately $360,839.64. The trade was a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 44.80% of the company's stock.

Institutional Investors Weigh In On Microvast

A number of hedge funds and other institutional investors have recently bought and sold shares of MVST. Caitong International Asset Management Co. Ltd raised its position in Microvast by 423.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 23,703 shares of the company's stock valued at $66,000 after purchasing an additional 19,173 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Microvast during the fourth quarter worth $448,000. XTX Topco Ltd grew its holdings in shares of Microvast by 189.3% during the fourth quarter. XTX Topco Ltd now owns 362,574 shares of the company's stock worth $1,015,000 after purchasing an additional 237,238 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Microvast in the fourth quarter valued at $479,000. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of Microvast in the fourth quarter valued at $2,189,000. 20.72% of the stock is owned by institutional investors and hedge funds.

Microvast Company Profile

Microvast Holdings, Inc, traded on NASDAQ under the symbol MVST, is a global provider of advanced lithium-ion battery solutions for transportation and stationary energy storage applications. The company designs, develops and manufactures a range of battery cells, modules and packs tailored to electric buses, commercial vehicles, passenger cars and grid storage systems. Its technology emphasizes fast charging, long cycle life and high energy density to meet stringent performance requirements in demanding operating environments.

Founded in 2006, Microvast has established a vertically integrated platform that spans research and development, pilot production and full-scale manufacturing.

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