Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report)'s stock price rose 6.2% during trading on Tuesday . The company traded as high as $3.80 and last traded at $3.79. Approximately 1,297,214 shares traded hands during trading, a decline of 89% from the average daily volume of 12,298,795 shares. The stock had previously closed at $3.57.
Analysts Set New Price Targets
Several research analysts have commented on the company. HC Wainwright restated a "buy" rating and set a $3.00 price objective on shares of Microvast in a report on Tuesday, April 8th. Wall Street Zen raised shares of Microvast from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.
Get Our Latest Report 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 stock has a market cap of $1.29 billion, a PE ratio of -10.42 and a beta of 3.02. The business's 50-day moving average price is $2.51 and its 200-day moving average price is $1.92.
Microvast (NASDAQ:MVST - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.10. Microvast had a negative return on equity of 22.10% and a negative net margin of 30.88%. The firm had revenue of $116.49 million during the quarter, compared to analyst estimates of $104.00 million. As a group, equities research analysts expect 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 modified their holdings of the stock. Millennium Management LLC lifted its stake in shares of Microvast by 101.6% during the first quarter. Millennium Management LLC now owns 4,646,060 shares of the company's stock worth $5,436,000 after buying an additional 2,341,637 shares during the period. Goldman Sachs Group Inc. lifted its position in Microvast by 158.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,606,896 shares of the company's stock worth $1,880,000 after acquiring an additional 986,335 shares during the period. Squarepoint Ops LLC acquired a new stake in Microvast during the 4th quarter worth about $737,000. LPL Financial LLC grew its stake in Microvast by 559.0% during the 4th quarter. LPL Financial LLC now owns 272,455 shares of the company's stock valued at $564,000 after purchasing an additional 231,109 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Microvast in the first quarter valued at about $213,000. 20.72% of the stock is owned by hedge funds and other institutional investors.
About Microvast
(
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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