Microvast (NASDAQ:MVST) Stock Price Up 6.9% - Still a Buy?

Key Points

• Shares jumped 6.9% intraday to $2.235 (high of $2.24) on Wednesday, with 1.48 million shares traded—about 56% below the stock's average daily volume.
• Analyst coverage is mixed: the consensus rating is a "Hold" with a $3.00 consensus price target, while individual firms range from Buy to Sell and Wall Street Zen recently cut its rating to Buy from Strong Buy.
• Fundamentals show a market cap of $723.6M and a negative PE (-4.10), the 50- and 200-day moving averages ($2.64 and $3.44) sit above the current price, insiders own 44.8% of shares and a director sold 12,596 shares in late December.

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) shares shot up 6.9% during mid-day trading on Wednesday . The stock traded as high as $2.24 and last traded at $2.2350. 1,479,358 shares were traded during trading, a decline of 56% from the average session volume of 3,328,512 shares. The stock had previously closed at $2.09.

Wall Street Analyst Weigh In

MVST has been the subject of a number of recent research reports. Wall Street Zen cut shares of Microvast from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 3rd. Weiss Ratings restated a "sell (d-)" rating on shares of Microvast in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $3.00.

Microvast Stock Performance

The stock has a 50-day moving average of $2.64 and a 200 day moving average of $3.44. The stock has a market cap of $723.64 million, a PE ratio of -4.10 and a beta of 3.39. The company has a quick ratio of 0.60, a current ratio of 0.84 and a debt-to-equity ratio of 0.21.

Insider Activity

In other news, Director Yixin Pan sold 12,596 shares of Microvast stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $2.76, for a total transaction of $34,764.96. Following the transaction, the director owned 130,739 shares in the company, valued at $360,839.64. The trade was a 8.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 44.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Microvast

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Microvast during the second quarter valued at about $847,000. Quantbot Technologies LP purchased a new position in shares of Microvast during the 3rd quarter worth approximately $1,745,000. Geode Capital Management LLC boosted its position in shares of Microvast by 117.3% during the 2nd quarter. Geode Capital Management LLC now owns 4,635,584 shares of the company's stock worth $16,830,000 after purchasing an additional 2,502,565 shares during the period. JPMorgan Chase & Co. increased its holdings in Microvast by 680,832.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,118,671 shares of the company's stock valued at $11,321,000 after purchasing an additional 3,118,213 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Microvast in the second quarter valued at approximately $384,000. 20.72% of the stock is currently owned by institutional investors and hedge funds.

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.

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