Oppenheimer Lowers Microvast (NASDAQ:MVST) Price Target to $4.00

Microvast (NASDAQ:MVST - Get Free Report) had its target price reduced by stock analysts at Oppenheimer from $8.00 to $4.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an "outperform" rating on the stock.

Other analysts have also issued reports about the company. Janney Montgomery Scott reissued a "neutral" rating and issued a $3.00 price target (down from $11.00) on shares of Microvast in a research note on Tuesday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $8.00 price objective on shares of Microvast in a research note on Wednesday, December 13th.

Microvast Price Performance

Shares of MVST traded down $0.31 during trading hours on Tuesday, reaching $0.59. 14,089,614 shares of the company traded hands, compared to its average volume of 4,585,229. The company has a quick ratio of 0.82, a current ratio of 1.20 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $186.76 million, a PE ratio of -1.67 and a beta of 1.47. Microvast has a fifty-two week low of $0.53 and a fifty-two week high of $2.91. The stock has a fifty day simple moving average of $0.82 and a 200 day simple moving average of $1.17.

Institutional Investors Weigh In On Microvast

Several hedge funds have recently modified their holdings of MVST. State Street Corp raised its holdings in shares of Microvast by 310.8% during the 2nd quarter. State Street Corp now owns 3,873,622 shares of the company's stock valued at $8,599,000 after buying an additional 2,930,690 shares during the period. First Trust Advisors LP purchased a new stake in Microvast during the 1st quarter worth approximately $14,591,000. Millennium Management LLC increased its holdings in Microvast by 199.6% during the 4th quarter. Millennium Management LLC now owns 2,490,907 shares of the company's stock worth $3,811,000 after purchasing an additional 1,659,484 shares during the last quarter. Norges Bank purchased a new stake in Microvast during the 4th quarter worth approximately $2,295,000. Finally, UniSuper Management Pty Ltd purchased a new stake in Microvast during the 3rd quarter worth approximately $2,376,000. 20.72% of the stock is currently owned by hedge funds and other institutional investors.

Microvast Company Profile

Microvast Holdings, Inc provides battery technologies for electric vehicles and energy storage solutions. It delivers cutting-edge battery systems that empower a sustainable future. The company offers a range of cell chemistries, such as lithium titanate oxide, lithium iron phosphate, and nickel manganese cobalt version 1 and 2.