Microvast (NASDAQ:MVST) Shares Gap Up - Time to Buy?

Key Points

• Microvast (NASDAQ:MVST) saw its stock price open at $2.91 after previously closing at $2.70, indicating increased investor interest.
• Wall Street Zen upgraded Microvast from a "hold" to a "buy" rating, reflecting positive sentiment among analysts regarding the company's future performance.
• The company reported earnings of $0.06 per share for the last quarter, exceeding estimates by $0.10, along with revenues of $116.49 million against expectations of $104 million.

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $2.70, but opened at $2.91. Microvast shares last traded at $2.70, with a volume of 4,632,855 shares changing hands.

Wall Street Analyst Weigh In

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

Microvast Price Performance

The stock has a market capitalization of $915.83 million, a price-to-earnings ratio of -6.57 and a beta of 3.02. The stock has a 50 day moving average price of $3.54 and a 200-day moving average price of $2.54. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.94.

Microvast (NASDAQ:MVST - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.10. The business had revenue of $116.49 million during the quarter, compared to analysts' expectations of $104.00 million. Microvast had a negative return on equity of 10.97% and a negative net margin of 20.66%. On average, analysts forecast that Microvast Holdings, Inc. will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On Microvast

A number of large investors have recently modified their holdings of MVST. Calamos Advisors LLC acquired a new position in shares of Microvast during the second quarter worth approximately $38,000. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Microvast in the second quarter worth about $166,000. Geode Capital Management LLC lifted its position in Microvast by 117.3% in the second quarter. Geode Capital Management LLC now owns 4,635,584 shares of the company's stock worth $16,830,000 after purchasing an additional 2,502,565 shares during the period. SBI Securities Co. Ltd. increased its position in shares of Microvast by 11.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 77,976 shares of the company's stock worth $283,000 after purchasing an additional 7,987 shares in the last quarter. Finally, ProShare Advisors LLC bought a new position in Microvast in the 2nd quarter worth approximately $148,000. 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.

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