Microvast (NASDAQ:MVST) Trading 8.1% Higher - Should You Buy?

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. HC Wainwright reissued a "buy" rating and set a $3.00 price target on shares of Microvast in a report on Tuesday, April 8th. Wall Street Zen upgraded Microvast from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd.

Microvast Trading Up 7.6%

The business has a fifty day simple moving average of $3.66 and a 200-day simple moving average of $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 $1.10 billion, a price-to-earnings ratio of -7.86 and a beta of 2.97.

Microvast (NASDAQ:MVST - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported $0.06 EPS for the quarter, beating 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 firm had revenue of $116.49 million for the quarter, compared to analyst estimates of $104.00 million. As a group, equities analysts forecast that Microvast Holdings, Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MVST. Baader Bank Aktiengesellschaft raised its stake in shares of Microvast by 175.8% in the second quarter. Baader Bank Aktiengesellschaft now owns 104,458 shares of the company's stock worth $370,000 after purchasing an additional 66,578 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Microvast by 158.9% during 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 during the last quarter. Millennium Management LLC increased its position 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 valued at $5,436,000 after acquiring an additional 2,341,637 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Microvast during the first quarter valued at approximately $213,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Microvast during the first quarter valued at approximately $184,000. 20.72% of the stock is owned by institutional investors and hedge funds.

About Microvast

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.