Microvast (NASDAQ:MVST) Stock Price Up 0.9% - Still a Buy?

Key Points

• Microvast shares edged up 0.9% on Wednesday, trading between $1.07 and $1.09 on lighter-than-average volume. The stock last changed hands at $1.08.
• Analyst sentiment remains weak, with recent downgrades from Zacks Research and Wall Street Zen and a reiterated sell rating from Weiss Ratings. MarketBeat says the consensus rating is “Sell”.
• The company’s fundamentals look challenged: its latest quarterly results missed both earnings and revenue estimates, and it reported a negative EPS along with weak margins. Insiders have also been selling shares, though some institutional investors recently increased positions.

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) rose 0.9% during trading on Wednesday . The stock traded as high as $1.09 and last traded at $1.08. 2,949,058 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 3,523,035 shares. The stock had previously closed at $1.07.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Zacks Research downgraded shares of Microvast from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 19th. Wall Street Zen downgraded shares of Microvast from a "buy" rating to a "hold" rating in a report on Saturday, March 21st. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Microvast in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Sell".

Microvast Stock Performance

The firm has a market capitalization of $359.81 million, a price-to-earnings ratio of -3.37 and a beta of 3.48. The firm's 50-day moving average price is $1.39 and its two-hundred day moving average price is $2.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 0.96.

Microvast (NASDAQ:MVST - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). The business had revenue of $60.61 million during the quarter, compared to analyst estimates of $99.02 million. Microvast had a negative return on equity of 6.12% and a negative net margin of 11.52%.

Insider Buying and Selling

In other Microvast news, CEO Yang Wu sold 46,313 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $1.24, for a total transaction of $57,428.12. Following the completion of the transaction, the chief executive officer directly owned 134,065,439 shares in the company, valued at $166,241,144.36. This represents a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Wenjuan Mattis sold 48,346 shares of Microvast stock in a transaction on Monday, May 18th. The shares were sold at an average price of $1.32, for a total value of $63,816.72. Following the transaction, the chief technology officer directly owned 932,678 shares of the company's stock, valued at approximately $1,231,134.96. The trade was a 4.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 105,767 shares of company stock valued at $134,360. 44.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Microvast

A number of hedge funds have recently made changes to their positions in MVST. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Microvast in the first quarter valued at about $213,000. Millennium Management LLC raised its stake in shares of 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. raised its stake in shares of Microvast by 158.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,606,896 shares of the company's stock valued at $1,880,000 after acquiring an additional 986,335 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Microvast in the 2nd quarter worth approximately $1,006,000. Finally, Rhumbline Advisers bought a new stake in Microvast during the 2nd quarter worth approximately $1,046,000. Institutional investors and hedge funds own 20.72% of the company's stock.

Microvast Company Profile

Microvast Holdings, Inc, traded on NASDAQ under the symbol MVST, is a global provider of advanced lithium-ion battery solutions for transportation and stationary energy storage applications. The company designs, develops and manufactures a range of battery cells, modules and packs tailored to electric buses, commercial vehicles, passenger cars and grid storage systems. Its technology emphasizes fast charging, long cycle life and high energy density to meet stringent performance requirements in demanding operating environments.

Founded in 2006, Microvast has established a vertically integrated platform that spans research and development, pilot production and full-scale manufacturing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.