Microvast (NASDAQ:MVST) Stock Price Down 5.6% - Should You Sell?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) were down 5.6% on Wednesday . The company traded as low as $3.37 and last traded at $3.31. Approximately 1,088,986 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 12,741,664 shares. The stock had previously closed at $3.50.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MVST shares. Wall Street Zen upgraded Microvast from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. HC Wainwright reaffirmed a "buy" rating and issued a $3.00 target price on shares of Microvast in a research report on Tuesday, April 8th.

Microvast Price Performance

The stock has a market cap of $1.08 billion, a P/E ratio of -7.78 and a beta of 2.97. The firm has a 50-day moving average price of $3.50 and a 200-day moving average price of $2.39. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.94 and a current ratio of 1.32.

Microvast (NASDAQ:MVST - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.10. The firm had revenue of $116.49 million during the quarter, compared to analyst estimates 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 forecast that Microvast Holdings, Inc. will post -0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Microvast

Several large investors have recently modified their holdings of the stock. Baader Bank Aktiengesellschaft raised its position in shares of Microvast by 175.8% in the 2nd 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 in 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Microvast during the first quarter valued at $213,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Microvast during the first quarter valued at $184,000. Hedge funds and other institutional investors own 20.72% of the company's stock.

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.