Microvast (NASDAQ:MVST) Trading 9.4% Higher - Here's What Happened

Key Points

• Microvast shares jumped 9.4% intraday to as high as $2.10 (last $2.046), on light volume of 753,208 shares—about an 81% decline from its average session volume.
• Analyst sentiment has turned negative with recent downgrades (Wall Street Zen to "hold", Zacks to "strong sell", Weiss at "sell"), leaving Microvast with an average MarketBeat rating of "Sell".
• Recent fundamentals show a $675.7M market cap, quarterly EPS of ($0.11) on $96.4M revenue, a negative net margin (−6.83%) and liquidity ratios below 1 (quick 0.74, current 0.92), indicating profitability and short-term liquidity pressures.

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) shares shot up 9.4% on Wednesday . The company traded as high as $2.10 and last traded at $2.0460. 753,208 shares changed hands during trading, a decline of 81% from the average session volume of 3,974,429 shares. The stock had previously closed at $1.87.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MVST. Wall Street Zen downgraded shares of Microvast from a "buy" rating to a "hold" rating in a research report on Saturday, March 21st. Zacks Research downgraded shares of Microvast from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 19th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Microvast in a research report on Friday, March 27th. Two analysts have rated the stock with a Sell rating, According to MarketBeat.com, Microvast presently has an average rating of "Sell".

Microvast Stock Up 8.8%

The company has a market capitalization of $675.69 million, a price-to-earnings ratio of -8.85 and a beta of 3.59. The business's 50-day moving average is $1.92 and its 200-day moving average is $3.10. The company has a quick ratio of 0.74, a current ratio of 0.92 and a debt-to-equity ratio of 0.13.

Microvast (NASDAQ:MVST - Get Free Report) last posted its earnings results on Monday, March 16th. The company reported ($0.11) earnings per share (EPS) for the quarter. The business 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, equities analysts predict that Microvast Holdings, Inc. will post 0.03 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Panagora Asset Management Inc. acquired a new position in shares of Microvast in the fourth quarter worth about $30,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Microvast in the third quarter worth about $32,000. Steward Partners Investment Advisory LLC raised its position in shares of Microvast by 727.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,796 shares of the company's stock worth $36,000 after acquiring an additional 11,250 shares during the period. Cibc World Markets Corp acquired a new position in shares of Microvast in the fourth quarter worth about $37,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Microvast in the third quarter worth about $38,000. Institutional investors and hedge funds 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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