Microvast (NASDAQ:MVST) Shares Down 6.1% - Time to Sell?

Key Points

• Microvast shares fell 6.1% to $0.6461 on trading volume that was 61% below the average, while the stock remained below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed, with ratings of Buy, Hold, and Sell producing an overall “Hold” consensus and an average price target of $4.00. HC Wainwright maintained a Buy rating but cut its target to $4.00.
• Microvast reported quarterly revenue of $87.26 million, below the $94.40 million analyst estimate, and posted a loss of $0.01 per share. Institutional investors own 20.72% of the company’s stock.

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report)'s share price fell 6.1% on Monday. The company traded as low as $0.6430 and last traded at $0.6461. Approximately 2,654,623 shares were traded during trading, a decline of 61% from the average daily volume of 6,882,443 shares. The stock had previously closed at $0.6881.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. HC Wainwright decreased their price objective on shares of Microvast to $4.00 and set a "buy" rating for the company in a report on Thursday, August 13th. Zacks Research upgraded Microvast from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Finally, Weiss Ratings raised Microvast from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Microvast presently has an average rating of "Hold" and an average price target of $4.00.

Microvast Stock Performance

The company has a market cap of $248.44 million, a price-to-earnings ratio of -32.30 and a beta of 3.55. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.09 and a quick ratio of 0.82. The firm has a fifty day simple moving average of $0.75 and a 200 day simple moving average of $1.23.

Microvast (NASDAQ:MVST - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.01) earnings per share for the quarter. The firm had revenue of $87.26 million during the quarter, compared to analyst estimates of $94.40 million. Microvast had a negative return on equity of 10.34% and a net margin of 13.95%. On average, sell-side analysts expect that Microvast Holdings, Inc. will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Microvast

A number of hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in Microvast by 11.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 54,060 shares of the company's stock valued at $79,000 after acquiring an additional 5,547 shares in the last quarter. Swiss National Bank lifted its position in shares of Microvast by 2.9% in the 1st quarter. Swiss National Bank now owns 422,000 shares of the company's stock worth $633,000 after acquiring an additional 11,900 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Microvast by 3.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 395,914 shares of the company's stock worth $463,000 after purchasing an additional 14,638 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Microvast by 423.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 23,703 shares of the company's stock worth $66,000 after purchasing an additional 19,173 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of Microvast during the 2nd quarter worth approximately $34,000. 20.72% of the stock is currently owned by institutional investors.

About Microvast

Microvast Holdings, Inc develops and manufactures lithium-ion battery technologies and energy-storage solutions. The company designs battery cells, modules and packs for commercial electric vehicles, including buses, trucks, delivery vehicles, specialty vehicles and other mobility applications. It also develops battery systems for stationary energy-storage uses.

Microvast emphasizes vertically integrated battery production, with capabilities spanning materials and components such as cathodes, anodes, separators and electrolytes, as well as cell and battery-system assembly.

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