Microvast (NASDAQ:MVST - Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03), Zacks reports. The business had revenue of $81.35 million during the quarter, compared to analyst estimates of $67.63 million. Microvast had a negative net margin of 34.68% and a negative return on equity of 18.37%. During the same period last year, the company earned ($0.10) EPS. Microvast updated its Q2 2024 guidance to EPS.
Microvast Stock Performance
Shares of NASDAQ MVST traded down $0.01 during midday trading on Friday, hitting $0.43. The company's stock had a trading volume of 5,524,523 shares, compared to its average volume of 3,540,621. Microvast has a 1 year low of $0.32 and a 1 year high of $2.91. The business's fifty day simple moving average is $0.59 and its two-hundred day simple moving average is $0.93. The company has a current ratio of 1.05, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15.
Wall Street Analyst Weigh In
Several brokerages have weighed in on MVST. Oppenheimer lowered their target price on shares of Microvast from $8.00 to $4.00 and set an "outperform" rating for the company in a research note on Tuesday, April 2nd. HC Wainwright dropped their target price on shares of Microvast from $8.00 to $3.00 and set a "buy" rating for the company in a report on Wednesday, April 3rd. Finally, Janney Montgomery Scott restated a "neutral" rating and set a $3.00 price target (down from $11.00) on shares of Microvast in a research note on Tuesday, April 2nd.
Read Our Latest Stock Analysis on MVST
About Microvast
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Microvast, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Microvast wasn't on the list.
While Microvast currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
