Shares of Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) fell 6.1% on Friday . The company traded as low as $3.90 and last traded at $4.07. 2,512,076 shares changed hands during trading, a decline of 80% from the average session volume of 12,495,097 shares. The stock had previously closed at $4.33.
Analyst Ratings Changes
Several analysts recently weighed in on the stock. Wall Street Zen raised shares of Microvast from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. HC Wainwright restated a "buy" rating and issued a $3.00 price objective on shares of Microvast in a report on Tuesday, April 8th.
Read Our Latest Stock Report on Microvast
Microvast Price Performance
The stock has a fifty day simple moving average of $3.05 and a 200-day simple moving average of $2.19. The company has a market capitalization of $1.22 billion, a PE ratio of -8.70 and a beta of 3.01. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.32.
Microvast (NASDAQ:MVST - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.10. The firm 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%. Equities analysts anticipate that Microvast Holdings, Inc. will post -0.3 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of MVST. Millennium Management LLC lifted its position in Microvast by 101.6% in the first quarter. Millennium Management LLC now owns 4,646,060 shares of the company's stock valued at $5,436,000 after acquiring an additional 2,341,637 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Microvast by 158.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,606,896 shares of the company's stock worth $1,880,000 after purchasing an additional 986,335 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Microvast in the 4th quarter valued at about $737,000. LPL Financial LLC boosted its position 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 purchasing an additional 231,109 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Microvast during the 1st quarter worth approximately $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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