Microvast (NASDAQ:MVST) Rating Increased to Hold at Zacks Research

Microvast (NASDAQ:MVST) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Microvast from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microvast in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce”.

Microvast Price Performance

MVST stock opened at $0.97 on Monday. The firm has a market cap of $323.27 million, a P/E ratio of -3.03 and a beta of 3.48. The firm’s fifty day moving average is $1.32 and its 200 day moving average is $1.94. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 0.96. Microvast has a 52 week low of $0.94 and a 52 week high of $7.12.

Microvast (NASDAQ:MVST) last issued its earnings results on Monday, May 11th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). The firm had revenue of $60.61 million during the quarter, compared to analysts’ expectations of $99.02 million. Microvast had a negative return on equity of 6.12% and a negative net margin of 11.52%.

Insider Transactions at Microvast

In other Microvast news, CTO Wenjuan Mattis sold 48,346 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $1.32, for a total transaction of $63,816.72. Following the completion of the transaction, the chief technology officer owned 932,678 shares in the company, valued at $1,231,134.96. The trade was a 4.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Yang Wu sold 46,313 shares of Microvast stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $1.24, for a total value of $57,428.12. Following the completion of the sale, the chief executive officer owned 134,065,439 shares of the company’s stock, valued at $166,241,144.36. The trade was a 0.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 105,767 shares of company stock worth $134,360 over the last three months. 44.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Panagora Asset Management Inc. acquired a new position in shares of Microvast in the 4th quarter valued at about $30,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Microvast in the 3rd quarter worth approximately $32,000. Steward Partners Investment Advisory LLC boosted its position in Microvast by 727.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,796 shares of the company’s stock worth $36,000 after purchasing an additional 11,250 shares in the last quarter. Cibc World Markets Corp acquired a new stake in shares of Microvast during the 4th quarter worth approximately $37,000. Finally, NewEdge Advisors LLC purchased a new stake in Microvast during the third quarter worth $38,000. Institutional investors and hedge funds own 20.72% of the company’s stock.

About Microvast

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.