Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report)'s stock price fell 3.9% during trading on Thursday . The company traded as low as $3.65 and last traded at $3.75. 1,143,874 shares were traded during mid-day trading, a decline of 91% from the average session volume of 12,600,127 shares. The stock had previously closed at $3.90.
Analysts Set New Price Targets
A number of brokerages recently commented on MVST. HC Wainwright reissued a "buy" rating and issued a $3.00 price objective on shares of Microvast in a research note on Tuesday, April 8th. Wall Street Zen raised Microvast from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.
Check Out Our Latest Analysis on MVST
Microvast Stock Performance
The business has a 50-day moving average price of $3.27 and a 200-day moving average price of $2.28. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.32.
Microvast (NASDAQ:MVST - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $116.49 million for the quarter, compared to the consensus estimate of $104.00 million. Microvast had a negative return on equity of 10.97% and a negative net margin of 20.66%. On average, analysts predict that Microvast Holdings, Inc. will post -0.3 earnings per share for the current year.
Institutional Trading of Microvast
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Microvast in the fourth quarter valued at about $32,000. Charles Schwab Investment Management Inc. purchased a new stake in Microvast in the fourth quarter valued at approximately $229,000. Wealthfront Advisers LLC purchased a new stake in Microvast in the fourth quarter valued at approximately $135,000. IMG Wealth Management Inc. purchased a new stake in Microvast in the fourth quarter valued at approximately $38,000. Finally, LPL Financial LLC boosted its position in Microvast by 559.0% in the fourth quarter. LPL Financial LLC now owns 272,455 shares of the company's stock valued at $564,000 after buying an additional 231,109 shares during the last quarter. Institutional investors and hedge funds own 20.72% of the company's stock.
About Microvast
(
Get Free Report)
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.
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