Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) shares were up 4.9% during mid-day trading on Friday . The stock traded as high as $3.75 and last traded at $3.73. Approximately 2,394,241 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 12,174,167 shares. The stock had previously closed at $3.55.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on MVST shares. Wall Street Zen raised Microvast from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. HC Wainwright reaffirmed a "buy" rating and issued a $3.00 price objective on shares of Microvast in a research note on Tuesday, April 8th.
Read Our Latest Stock Report on Microvast
Microvast Trading Up 3.1%
The firm's 50-day simple moving average is $2.17 and its 200-day simple moving average is $1.78. The company has a quick ratio of 0.83, a current ratio of 1.30 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.29 billion, a PE ratio of -10.45 and a beta of 2.72.
Microvast (NASDAQ:MVST - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.10. The company 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 22.10% and a negative net margin of 30.88%. Equities analysts expect that Microvast Holdings, Inc. will post -0.3 earnings per share for the current year.
Institutional Trading of Microvast
A number of institutional investors have recently made changes to their positions in the stock. Millennium Management LLC boosted its holdings 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 purchasing an additional 2,341,637 shares during the period. Goldman Sachs Group Inc. boosted its holdings in 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 in the last quarter. Squarepoint Ops LLC bought a new stake in Microvast in the fourth quarter valued at $737,000. LPL Financial LLC boosted its holdings in Microvast by 559.0% in the fourth quarter. LPL Financial LLC now owns 272,455 shares of the company's stock valued at $564,000 after acquiring an additional 231,109 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Microvast in the first quarter valued at $213,000. Hedge funds and other institutional investors own 20.72% of the company's stock.
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.
Read More
Before you consider Microvast, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Microvast wasn't on the list.
While Microvast currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
