Microvast (NASDAQ:MVST) Stock Price Down 3.9% - What's Next?

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) fell 3.9% during trading on Wednesday . The company traded as low as $3.40 and last traded at $3.43. 1,189,447 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 12,312,546 shares. The stock had previously closed at $3.57.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Microvast from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. HC Wainwright reaffirmed a "buy" rating and issued a $3.00 price objective on shares of Microvast in a research note on Tuesday, April 8th.

Microvast Trading Up 15.1%

The stock's 50 day moving average is $2.56 and its two-hundred day moving average is $1.95. The company has a market capitalization of $1.29 billion, a PE ratio of -10.42 and a beta of 3.02. The company has a quick ratio of 0.83, a current ratio of 1.30 and a debt-to-equity ratio of 0.24.

Microvast (NASDAQ:MVST - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.10. The company had revenue of $116.49 million during the quarter, compared to analyst estimates of $104.00 million. Microvast had a negative net margin of 30.88% and a negative return on equity of 22.10%. As a group, sell-side analysts predict that Microvast Holdings, Inc. will post -0.3 EPS for the current fiscal year.

Institutional Trading of Microvast

Several hedge funds have recently modified their holdings of MVST. Millennium Management LLC lifted 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 buying an additional 2,341,637 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Microvast by 158.9% in 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 last quarter. Squarepoint Ops LLC purchased a new position in shares of Microvast in the 4th quarter valued at approximately $737,000. LPL Financial LLC raised its position in shares of Microvast by 559.0% in the 4th quarter. LPL Financial LLC now owns 272,455 shares of the company's stock valued at $564,000 after purchasing an additional 231,109 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Microvast in the 1st quarter valued at approximately $213,000. 20.72% of the stock is owned by hedge funds and other institutional investors.

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.