Microvast (NASDAQ:MVST) Trading 6.6% Higher - Here's What Happened

Key Points

• Shares rose 6.6% to $1.545 on Monday (intraday high $1.56) on just 738,516 shares traded, roughly 82% below the stock's average session volume.
• Analyst sentiment has turned negative — MarketBeat shows a consensus Reduce rating with a $3.00 price target after recent downgrades (Wall Street Zen to Hold, Zacks to Strong Sell, Weiss reiterating Sell).
• In the latest quarter Microvast reported EPS of -$0.11 on revenue of $96.4M, has a negative net margin, current/quick ratios below 1, and a market cap of about $516M.

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) shares traded up 6.6% during trading on Monday . The company traded as high as $1.56 and last traded at $1.5450. 738,516 shares traded hands during trading, a decline of 82% from the average session volume of 4,138,962 shares. The stock had previously closed at $1.45.

Wall Street Analyst Weigh In

MVST has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Microvast from a "buy" rating to a "hold" rating in a research note on Saturday, March 21st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Microvast in a research note on Friday, March 27th. Finally, Zacks Research lowered shares of Microvast from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 19th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Microvast has a consensus rating of "Reduce" and a consensus price target of $3.00.

Microvast Price Performance

The company has a current ratio of 0.92, a quick ratio of 0.74 and a debt-to-equity ratio of 0.13. The business's fifty day moving average is $2.14 and its 200 day moving average is $3.30. The company has a market cap of $516.31 million, a P/E ratio of -6.76 and a beta of 3.59.

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

Hedge Funds Weigh In On Microvast

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Microvast during the 1st quarter valued at approximately $213,000. Millennium Management LLC boosted its holdings 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 worth $5,436,000 after acquiring an additional 2,341,637 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Microvast by 158.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,606,896 shares of the company's stock valued at $1,880,000 after purchasing an additional 986,335 shares during the period. JPMorgan Chase & Co. lifted its holdings in Microvast by 680,832.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,118,671 shares of the company's stock worth $11,321,000 after purchasing an additional 3,118,213 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in Microvast in the 2nd quarter worth about $1,006,000. Institutional investors own 20.72% of the company's stock.

About Microvast

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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