Microvast (NASDAQ:MVST) Trading 8.1% Higher - Still a Buy?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) shot up 8.1% during mid-day trading on Friday . The company traded as high as $3.39 and last traded at $3.40. 3,990,129 shares were traded during trading, a decline of 54% from the average session volume of 8,602,934 shares. The stock had previously closed at $3.14.

Analyst Ratings Changes

A number of research firms recently commented on MVST. Wall Street Zen raised shares of Microvast from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. HC Wainwright reiterated a "buy" rating and set a $3.00 target price on shares of Microvast in a research report on Tuesday, April 8th.

Microvast Trading Up 0.3%

The business's fifty day moving average is $3.66 and its 200-day moving average is $2.44. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.94 and a current ratio of 1.32. The firm has a market cap of $1.08 billion, a P/E ratio of -7.70 and a beta of 2.97.

Microvast (NASDAQ:MVST - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.10. Microvast had a negative return on equity of 10.97% and a negative net margin of 20.66%. The business had revenue of $116.49 million during the quarter, compared to analyst estimates of $104.00 million. Analysts predict that Microvast Holdings, Inc. will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Microvast

Several hedge funds and other institutional investors have recently modified their holdings of MVST. BNP Paribas Financial Markets purchased a new position in shares of Microvast during the 4th quarter worth about $25,000. Prudential Financial Inc. acquired a new position in shares of Microvast in the 4th quarter valued at about $55,000. XTX Topco Ltd lifted its position in shares of Microvast by 38.4% during the fourth quarter. XTX Topco Ltd now owns 119,066 shares of the company's stock worth $246,000 after acquiring an additional 33,016 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Microvast during the fourth quarter worth about $73,000. Finally, ExodusPoint Capital Management LP purchased a new stake in shares of Microvast in the 4th quarter worth $78,000. 20.72% of the stock is owned by institutional investors.

Microvast Company Profile

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.