Microvast (NASDAQ:MVST) Shares Up 8.4% – Here’s Why

Microvast Holdings, Inc. (NASDAQ:MVST) shares rose 8.4% on Wednesday . The stock traded as high as $1.88 and last traded at $1.8750. Approximately 1,727,218 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 4,016,202 shares. The stock had previously closed at $1.73.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MVST shares. Zacks Research downgraded shares of Microvast from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 19th. Wall Street Zen cut shares of Microvast from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Microvast in a report on Friday, March 27th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Microvast Stock Performance

The firm has a market cap of $614.26 million, a PE ratio of -8.04 and a beta of 3.59. The firm has a fifty day moving average price of $1.96 and a 200 day moving average price of $3.17. The company has a current ratio of 0.92, a quick ratio of 0.74 and a debt-to-equity ratio of 0.13.

Microvast (NASDAQ:MVST) last announced its quarterly earnings results on Monday, March 16th. The company reported ($0.11) EPS for the quarter. The business had revenue of $96.40 million during the quarter. Microvast had a negative net margin of 6.83% and a positive return on equity of 2.51%. As a group, equities research analysts expect that Microvast Holdings, Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Trading of Microvast

A number of institutional investors and hedge funds have recently bought and sold shares of MVST. Vanguard Group Inc. boosted its stake in shares of Microvast by 14.6% in the third quarter. Vanguard Group Inc. now owns 12,010,655 shares of the company’s stock valued at $46,241,000 after purchasing an additional 1,533,708 shares during the period. Geode Capital Management LLC boosted its position in Microvast by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 4,842,635 shares of the company’s stock valued at $13,561,000 after buying an additional 212,228 shares during the period. Millennium Management LLC grew its stake in shares of Microvast by 101.6% in the first quarter. Millennium Management LLC now owns 4,646,060 shares of the company’s stock worth $5,436,000 after acquiring an additional 2,341,637 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Microvast by 31.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,859,317 shares of the company’s stock worth $10,806,000 after acquiring an additional 927,013 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Microvast by 4,632.7% during the fourth quarter. First Trust Advisors LP now owns 2,088,304 shares of the company’s stock worth $5,847,000 after acquiring an additional 2,044,179 shares during the period. 20.72% of the stock is currently owned by hedge funds and other institutional investors.

Microvast Company Profile

Microvast Holdings, Inc, traded on NASDAQ under the symbol MVST, is a global provider of advanced lithium-ion battery solutions for transportation and stationary energy storage applications. The company designs, develops and manufactures a range of battery cells, modules and packs tailored to electric buses, commercial vehicles, passenger cars and grid storage systems. Its technology emphasizes fast charging, long cycle life and high energy density to meet stringent performance requirements in demanding operating environments.

Founded in 2006, Microvast has established a vertically integrated platform that spans research and development, pilot production and full-scale manufacturing.