Microvast (NASDAQ:MVST) Trading 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 traded hands during trading, a decline of 91% from the average daily volume of 12,741,664 shares. The stock had previously closed at $3.50.

Wall Street Analysts Forecast Growth

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

Microvast Stock Down 2.9%

The company has a fifty day moving average of $3.47 and a two-hundred day moving average 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. The company has a market cap of $1.11 billion, a PE ratio of -7.91 and a beta of 2.97.

Microvast (NASDAQ:MVST - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.10. The business had revenue of $116.49 million during the quarter, compared to the consensus estimate of $104.00 million. Microvast had a negative net margin of 20.66% and a negative return on equity of 10.97%. As a group, analysts anticipate that Microvast Holdings, Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Microvast

Several large investors have recently bought and sold shares of MVST. Goldman Sachs Group Inc. grew its stake in Microvast by 158.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,606,896 shares of the company's stock worth $1,880,000 after buying an additional 986,335 shares during the last quarter. Millennium Management LLC boosted its position in Microvast by 101.6% during the first quarter. Millennium Management LLC now owns 4,646,060 shares of the company's stock worth $5,436,000 after purchasing an additional 2,341,637 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Microvast during the first quarter worth $213,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Microvast during the first quarter valued at approximately $184,000. Finally, Rathbones Group PLC acquired a new position in Microvast in the first quarter valued at $53,000. 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.

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