Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $3.57, but opened at $3.45. Microvast shares last traded at $3.58, with a volume of 3,033,091 shares traded.
Analysts Set New Price Targets
Several research analysts recently weighed in on the stock. HC Wainwright restated a "buy" rating and set a $3.00 price target on shares of Microvast in a research report on Tuesday, April 8th. Wall Street Zen upgraded shares of Microvast from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.
Get Our Latest Stock Analysis on MVST
Microvast Stock Performance
The company has a current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24. The firm's 50-day moving average is $2.12 and its two-hundred day moving average is $1.77. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -10.09 and a beta of 2.72.
Microvast (NASDAQ:MVST - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.10. The company had revenue of $116.49 million during the quarter, compared to the consensus estimate of $104.00 million. Microvast had a negative net margin of 30.88% and a negative return on equity of 22.10%. As a group, sell-side analysts expect 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 bought and sold shares of the business. Millennium Management LLC raised its holdings in Microvast by 101.6% in the 1st 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 last quarter. Goldman Sachs Group Inc. raised its holdings 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 acquiring an additional 986,335 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Microvast in the 4th quarter valued at about $737,000. LPL Financial LLC raised its holdings 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 acquiring an additional 231,109 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Microvast in the 1st quarter valued at about $213,000. Institutional investors and hedge funds own 20.72% of the company's stock.
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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