Microvast (NASDAQ:MVST) Stock Price Up 12.9% - Here's Why

Key Points

• Microvast (NASDAQ:MVST) shares rose by 12.9% to a current trading value of $2.89, despite a significant decline in trading volume compared to average levels.
• Recent analyst upgrades have raised the stock's ratings, with Wall Street Zen and Zacks Research both recommending a buy, and a consensus price target of $3.00 has been established.
• In its latest earnings report, Microvast reported an earnings per share of $0.05, surpassing expectations, but revenue was below estimates at $91.34 million.

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report)'s stock price rose 12.9% during trading on Monday . The company traded as high as $2.98 and last traded at $2.89. Approximately 3,689,315 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 8,217,554 shares. The stock had previously closed at $2.56.

Wall Street Analysts Forecast Growth

MVST has been the subject of a number of research reports. Zacks Research upgraded shares of Microvast from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 13th. Wall Street Zen upgraded shares of Microvast from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to data from MarketBeat.com, Microvast currently has a consensus rating of "Strong Buy" and an average price target of $3.00.

Microvast Trading Up 15.9%

The business's 50-day simple moving average is $2.95 and its two-hundred day simple moving average is $2.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.83 and a quick ratio of 0.56. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -6.43 and a beta of 3.12.

Microvast (NASDAQ:MVST - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The business had revenue of $91.34 million for the quarter, compared to the consensus estimate of $106.79 million. Microvast had a positive return on equity of 10.32% and a negative net margin of 26.82%. Microvast has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Microvast Holdings, Inc. will post -0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Microvast

Institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank purchased a new position in shares of Microvast during the 2nd quarter valued at approximately $25,000. Calamos Advisors LLC bought a new stake in Microvast in the second quarter valued at $38,000. Tidal Investments LLC bought a new stake in Microvast in the second quarter valued at $41,000. BNP Paribas Financial Markets bought a new stake in Microvast in the fourth quarter valued at $25,000. Finally, California State Teachers Retirement System bought a new stake in Microvast in the second quarter valued at $45,000. Hedge funds and other institutional investors own 20.72% of the company's stock.

About Microvast

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.