Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report)'s share price traded down 5.6% during mid-day trading on Wednesday . The stock traded as low as $3.37 and last traded at $3.31. 1,088,986 shares changed hands during trading, a decline of 91% from the average session volume of 12,741,664 shares. The stock had previously closed at $3.50.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports 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 set a $3.00 price target on shares of Microvast in a research note on Tuesday, April 8th.
View Our Latest Research Report on MVST
Microvast Stock Down 6.2%
The company's 50-day moving average price is $3.54 and its two-hundred day moving average price is $2.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.94.
Microvast (NASDAQ:MVST - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.10. The company 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%. On average, equities analysts expect that Microvast Holdings, Inc. will post -0.3 EPS for the current year.
Institutional Investors Weigh In On Microvast
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC increased its position in shares of Microvast by 101.6% in the 1st 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 during the last quarter. Goldman Sachs Group Inc. boosted its holdings 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 buying an additional 986,335 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Microvast in the 4th quarter valued at about $737,000. LPL Financial LLC boosted its holdings 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 buying an additional 231,109 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Microvast in the 1st quarter valued at about $213,000. Institutional investors own 20.72% of the company's stock.
Microvast Company Profile
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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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