Microvast (NASDAQ:MVST) Trading Up 10.1% - Still a Buy?

Key Points

• Microvast Holdings Inc. (NASDAQ:MVST) shares rose by 10.1% on Wednesday to a last trading price of $2.89, despite a decrease in trading volume by 45% compared to its average.
• Wall Street Zen upgraded Microvast's rating from "hold" to "buy", signaling positive analyst sentiment towards the stock.
• In its latest earnings report, Microvast reported $0.05 earnings per share (EPS), exceeding expectations of $0.01, although it had a negative net margin of 26.82% and revenue of $91.34 million, which fell short of analyst estimates.

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report)'s stock price rose 10.1% during mid-day trading on Wednesday . The company traded as high as $3.13 and last traded at $2.89. Approximately 4,730,892 shares were traded during trading, a decline of 45% from the average daily volume of 8,563,109 shares. The stock had previously closed at $2.62.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Microvast from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.

Microvast Trading Down 3.3%

The firm has a market capitalization of $862.18 million, a price-to-earnings ratio of -5.20 and a beta of 3.02. The company has a quick ratio of 0.56, a current ratio of 0.83 and a debt-to-equity ratio of 0.21. The firm's 50 day moving average is $3.42 and its 200 day moving average is $2.59.

Microvast (NASDAQ:MVST - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $91.34 million for the quarter, compared to analysts' expectations of $106.79 million. Microvast had a positive return on equity of 10.32% and a negative net margin of 26.82%. Equities analysts forecast that Microvast Holdings, Inc. will post -0.3 earnings per share for the current year.

Institutional Trading of Microvast

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC bought a new stake in Microvast in the second quarter worth approximately $75,000. Tidal Investments LLC acquired a new stake in shares of Microvast in the 2nd quarter valued at $41,000. BNP Paribas Financial Markets boosted its holdings in Microvast by 467.3% in the second quarter. BNP Paribas Financial Markets now owns 358,476 shares of the company's stock worth $1,301,000 after purchasing an additional 295,285 shares in the last quarter. Brevan Howard Capital Management LP increased its position in Microvast by 89.0% during the second quarter. Brevan Howard Capital Management LP now owns 109,353 shares of the company's stock worth $397,000 after buying an additional 51,482 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Microvast by 349.0% during the second quarter. Bank of America Corp DE now owns 1,636,970 shares of the company's stock worth $5,942,000 after buying an additional 1,272,420 shares during the last quarter. 20.72% of the stock is currently owned by institutional investors and hedge funds.

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.