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) gapped down prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Microvast from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd.

Microvast Trading Down 3.5%

The firm has a market cap of $891.46 million, a PE ratio of -5.37 and a beta of 3.02. The company's fifty day moving average price is $3.45 and its two-hundred day moving average price is $2.57. The company has a quick ratio of 0.94, a current ratio of 0.83 and a debt-to-equity ratio of 0.21.

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

Hedge Funds Weigh In On Microvast

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank acquired a new position in Microvast during the second quarter worth about $25,000. Calamos Advisors LLC acquired a new position in shares of Microvast in the second quarter valued at approximately $38,000. Tidal Investments LLC acquired a new position in shares of Microvast in the second quarter valued at approximately $41,000. BNP Paribas Financial Markets acquired a new position in Microvast during the fourth quarter worth approximately $25,000. Finally, California State Teachers Retirement System acquired a new position in Microvast during the second quarter worth approximately $45,000. Institutional investors and hedge funds own 20.72% of the company's stock.

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.