Microvast (NASDAQ:MVST) Shares Gap Down - What's Next?

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $4.22, but opened at $4.09. Microvast shares last traded at $4.04, with a volume of 1,677,650 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MVST. 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 price objective on shares of Microvast in a research report on Tuesday, April 8th.

Microvast Price Performance

The firm's 50-day moving average is $2.75 and its two-hundred day moving average is $2.04. The company has a market cap of $1.37 billion, a P/E ratio of -11.05 and a beta of 3.02. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.30 and a quick ratio of 0.83.

Microvast (NASDAQ:MVST - Get Free Report) last posted its quarterly earnings data 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. Microvast had a negative net margin of 30.88% and a negative return on equity of 22.10%. The business had revenue of $116.49 million for the quarter, compared to analysts' expectations of $104.00 million. Analysts anticipate that Microvast Holdings, Inc. will post -0.3 earnings per share for the current year.

Institutional Trading of Microvast

A number of hedge funds have recently added to or reduced their stakes in MVST. BNP Paribas Financial Markets acquired a new position in Microvast in the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. acquired a new position in Microvast in the 4th quarter worth approximately $32,000. IMG Wealth Management Inc. acquired a new position in Microvast in the 4th quarter worth approximately $38,000. Baader Bank Aktiengesellschaft acquired a new position in Microvast in the 1st quarter worth approximately $44,000. Finally, FNY Investment Advisers LLC acquired a new position in Microvast in the 1st quarter worth approximately $45,000. 20.72% of the stock is owned by hedge funds and other institutional investors.

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.