Cantor Fitzgerald Weighs in on Microvast Holdings, Inc.'s FY2024 Earnings (NASDAQ:MVST)

Microvast Holdings, Inc. (NASDAQ:MVST - Free Report) - Equities research analysts at Cantor Fitzgerald issued their FY2024 EPS estimates for shares of Microvast in a note issued to investors on Tuesday, May 14th. Cantor Fitzgerald analyst D. Soderberg forecasts that the company will post earnings of ($0.17) per share for the year. The consensus estimate for Microvast's current full-year earnings is ($0.28) per share.

Microvast (NASDAQ:MVST - Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The company had revenue of $81.35 million for the quarter, compared to the consensus estimate of $67.63 million. Microvast had a negative net margin of 29.79% and a negative return on equity of 18.01%. During the same period last year, the firm posted ($0.10) earnings per share.

MVST has been the topic of a number of other reports. Oppenheimer reduced their target price on shares of Microvast from $8.00 to $4.00 and set an "outperform" rating on the stock in a report on Tuesday, April 2nd. Janney Montgomery Scott reaffirmed a "neutral" rating and issued a $3.00 price objective (down from $11.00) on shares of Microvast in a research note on Tuesday, April 2nd. Finally, HC Wainwright reduced their price objective on shares of Microvast from $8.00 to $3.00 and set a "buy" rating on the stock in a research note on Wednesday, April 3rd.

Microvast Stock Performance

MVST remained flat at $0.42 during trading on Thursday. 1,857,521 shares of the company's stock were exchanged, compared to its average volume of 4,468,646. Microvast has a 52-week low of $0.32 and a 52-week high of $2.91. The company has a quick ratio of 0.68, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $132.88 million, a PE ratio of -1.30 and a beta of 1.61. The stock has a 50 day moving average price of $0.56 and a two-hundred day moving average price of $0.91.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MVST. SG Americas Securities LLC acquired a new position in shares of Microvast during the 3rd quarter valued at $56,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Microvast by 6.1% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 349,293 shares of the company's stock valued at $660,000 after acquiring an additional 20,060 shares during the period. Jump Financial LLC acquired a new position in Microvast during the third quarter worth $212,000. New York State Common Retirement Fund raised its holdings in Microvast by 2,197.5% during the third quarter. New York State Common Retirement Fund now owns 44,549 shares of the company's stock worth $85,000 after buying an additional 42,610 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in Microvast during the third quarter worth $41,000. Institutional investors and hedge funds 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.