Microvast (NASDAQ:MVST) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Microvast (NASDAQ:MVST) from a "hold" to a strong sell, and the stock's consensus rating is Reduce with an average price target of $3.00.
• Shares opened at $1.60 (12‑month range $1.09–$7.12) and the company reported quarterly EPS of ($0.11) with a negative net margin of 6.83%, signaling ongoing losses and weak fundamentals.
• Insiders own 44.8% of the stock and a director sold 12,596 shares in late December, while institutional ownership stands at about 20.7%.

Microvast (NASDAQ:MVST - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Thursday,Zacks.com reports.

A number of other analysts have also recently issued reports on the company. Wall Street Zen cut Microvast from a "buy" rating to a "hold" rating in a report on Saturday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Microvast in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Microvast presently has a consensus rating of "Reduce" and an average price target of $3.00.

Microvast Price Performance

Shares of Microvast stock opened at $1.60 on Thursday. Microvast has a twelve month low of $1.09 and a twelve month high of $7.12. The stock has a market capitalization of $531.25 million, a P/E ratio of -6.96 and a beta of 3.39. The company has a current ratio of 0.92, a quick ratio of 0.60 and a debt-to-equity ratio of 0.13. The business's fifty day moving average price is $2.45 and its 200 day moving average price is $3.39.

Microvast (NASDAQ:MVST - Get Free Report) last announced its quarterly earnings results on Monday, March 16th. The company reported ($0.11) EPS for the quarter. The firm had revenue of $96.40 million for the quarter. Microvast had a positive return on equity of 2.51% and a negative net margin of 6.83%. As a group, research analysts anticipate that Microvast will post -0.3 earnings per share for the current year.

Insider Activity at Microvast

In other Microvast news, Director Yixin Pan sold 12,596 shares of the business's stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 44.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Microvast

Several hedge funds have recently modified their holdings of MVST. Northwestern Mutual Wealth Management Co. acquired a new position in Microvast during the 3rd quarter worth approximately $32,000. NewEdge Advisors LLC acquired a new stake in Microvast in the third quarter valued at approximately $38,000. Panagora Asset Management Inc. purchased a new stake in shares of Microvast during the fourth quarter valued at approximately $30,000. Tidal Investments LLC purchased a new stake in shares of Microvast during the second quarter valued at approximately $41,000. Finally, California State Teachers Retirement System acquired a new position in shares of Microvast during the second quarter worth $45,000. 20.72% of the stock is currently owned by hedge funds and other institutional investors.

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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