Microvast (NASDAQ:MVST - Get Free Report) had its price target cut by analysts at HC Wainwright from $8.00 to $3.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's price target suggests a potential upside of 394.56% from the company's previous close.
MVST has been the topic of a number of other research reports. Oppenheimer cut 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. Cantor Fitzgerald reissued an "overweight" rating and issued a $8.00 target price on shares of Microvast in a report on Wednesday, December 13th. Finally, Janney Montgomery Scott reissued a "neutral" rating and issued a $3.00 target price (down previously from $11.00) on shares of Microvast in a report on Tuesday.
View Our Latest Stock Analysis on MVST
Microvast Price Performance
NASDAQ:MVST traded up $0.02 during trading hours on Wednesday, reaching $0.61. 13,220,617 shares of the company traded hands, compared to its average volume of 4,720,563. Microvast has a 1-year low of $0.53 and a 1-year high of $2.91. The stock has a market cap of $192.01 million, a P/E ratio of -1.78 and a beta of 1.47. The firm's 50-day moving average is $0.81 and its 200-day moving average is $1.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.20 and a quick ratio of 0.82.
Institutional Investors Weigh In On Microvast
A number of hedge funds have recently made changes to their positions in MVST. State Street Corp raised its holdings in shares of Microvast by 310.8% during the second 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 last quarter. First Trust Advisors LP bought a new stake in Microvast during the first quarter worth approximately $14,591,000. Millennium Management LLC raised its holdings in Microvast by 199.6% during the fourth 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 in the last quarter. Norges Bank bought a new stake in Microvast during the fourth quarter worth approximately $2,295,000. Finally, UniSuper Management Pty Ltd bought a new stake in Microvast during the third quarter worth approximately $2,376,000. Institutional investors own 20.72% of the company's stock.
Microvast Company Profile
(
Get Free Report)
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.
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