Microvast (NASDAQ:MVST) Shares Up 5.2% - Still a Buy?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) were up 5.2% during mid-day trading on Friday . The stock traded as high as $4.08 and last traded at $4.13. Approximately 1,831,912 shares changed hands during trading, a decline of 85% from the average daily volume of 12,617,023 shares. The stock had previously closed at $3.92.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MVST shares. HC Wainwright restated a "buy" rating and set a $3.00 target price on shares of Microvast in a research report on Tuesday, April 8th. Wall Street Zen upgraded Microvast from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.

Microvast Stock Up 2.7%

The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -9.36 and a beta of 3.02. The business's 50 day moving average is $3.23 and its 200-day moving average is $2.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.94 and a current ratio of 1.32.

Microvast (NASDAQ:MVST - Get Free Report) last posted 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. Microvast had a negative net margin of 20.66% and a negative return on equity of 10.97%. The business had revenue of $116.49 million for the quarter, compared to the consensus estimate of $104.00 million. On average, sell-side analysts predict that Microvast Holdings, Inc. will post -0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Microvast

Several hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets purchased a new stake in shares of Microvast in the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new position in Microvast during the fourth quarter worth about $32,000. IMG Wealth Management Inc. acquired a new stake in Microvast in the 4th quarter valued at approximately $38,000. Prudential Financial Inc. purchased a new stake in Microvast in the fourth quarter valued at approximately $55,000. Finally, XTX Topco Ltd lifted its stake in Microvast by 38.4% during the fourth quarter. XTX Topco Ltd now owns 119,066 shares of the company's stock worth $246,000 after purchasing an additional 33,016 shares in the last quarter. 20.72% of the stock is owned by hedge funds and other 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.

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