Microvast (NASDAQ:MVST) Reaches New 12-Month High – Still a Buy?

Microvast Holdings, Inc. (NASDAQ:MVST)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $3.47 and last traded at $3.11, with a volume of 53522298 shares trading hands. The stock had previously closed at $2.39.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of Microvast in a research report on Tuesday, April 8th.

Microvast Trading Up 30.1%

The firm has a 50-day moving average price of $1.74 and a 200-day moving average price of $1.54. The stock has a market capitalization of $1.01 billion, a PE ratio of -8.18 and a beta of 2.72. The company has a current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24.

Microvast (NASDAQ:MVST) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.10. Microvast had a negative return on equity of 22.10% and a negative net margin of 30.88%. The company had revenue of $116.49 million during the quarter, compared to analyst estimates of $104.00 million. As a group, equities analysts forecast that Microvast Holdings, Inc. will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new position in Microvast in the 4th quarter worth about $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Microvast during the 4th quarter valued at about $32,000. IMG Wealth Management Inc. bought a new stake in shares of Microvast during the 4th quarter valued at about $38,000. Prudential Financial Inc. bought a new stake in shares of Microvast during the 4th quarter valued at about $55,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Microvast during the 4th quarter valued at about $73,000. Institutional investors own 20.72% of the company’s stock.

Microvast Company Profile

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.