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

Key Points

• Microvast Holdings, Inc. shares opened at $2.49 after previously closing at $3.03, indicating a significant drop in stock price.
• Analysts at Wall Street Zen upgraded Microvast's rating from "hold" to "buy" shortly after the stock's decline.
• The company reported a quarterly earnings EPS of $0.05, surpassing estimates, but revenue of $91.34 million fell short of expectations of $106.79 million.

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $3.03, but opened at $2.49. Microvast shares last traded at $2.36, with a volume of 7,184,758 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Microvast from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.

Microvast Stock Performance

The company has a 50-day moving average price of $3.48 and a two-hundred day moving average price of $2.56. The company has a current ratio of 0.83, a quick ratio of 0.94 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $923.99 million, a P/E ratio of -5.57 and a beta of 3.02.

Microvast (NASDAQ:MVST - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. Microvast had a positive return on equity of 10.32% and a negative net margin of 26.82%. The firm had revenue of $91.34 million during the quarter, compared to analyst estimates of $106.79 million. On average, equities analysts forecast that Microvast Holdings, Inc. will post -0.3 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its stake in shares of Microvast by 193.9% in the 4th quarter. Bank of America Corp DE now owns 112,754 shares of the company's stock valued at $233,000 after buying an additional 74,393 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Microvast in the 4th quarter valued at about $737,000. LPL Financial LLC grew its stake in shares of 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 buying an additional 231,109 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Microvast in the 4th quarter valued at about $73,000. Finally, XTX Topco Ltd grew its stake in shares of Microvast by 38.4% in the 4th quarter. XTX Topco Ltd now owns 119,066 shares of the company's stock valued at $246,000 after buying an additional 33,016 shares during the period. 20.72% of the stock is owned by institutional investors.

Microvast Company Profile

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.