Microvast (NASDAQ:MVST) Shares Up 7.2% – Should You Buy?

Microvast Holdings, Inc. (NASDAQ:MVST)’s share price was up 7.2% on Thursday . The stock traded as high as $1.5650 and last traded at $1.5550. Approximately 760,588 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 4,396,380 shares. The stock had previously closed at $1.45.

Wall Street Analyst Weigh In

Several analysts have weighed in on MVST shares. Wall Street Zen cut shares of Microvast from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Zacks Research cut shares of Microvast from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Microvast in a research note on Friday, March 27th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Microvast presently has a consensus rating of “Sell”.

Microvast Stock Up 13.4%

The company has a current ratio of 0.96, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The firm’s 50 day simple moving average is $1.65 and its two-hundred day simple moving average is $2.49. The firm has a market cap of $548.04 million, a price-to-earnings ratio of -5.14 and a beta of 3.60.

Microvast (NASDAQ:MVST) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.09). Microvast had a negative return on equity of 6.12% and a negative net margin of 11.52%.The business had revenue of $60.61 million during the quarter, compared to analyst estimates of $99.02 million.

Insider Buying and Selling

In other Microvast news, CTO Wenjuan Mattis sold 48,346 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $1.32, for a total value of $63,816.72. Following the transaction, the chief technology officer directly owned 932,678 shares of the company’s stock, valued at $1,231,134.96. This trade represents a 4.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 44.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Microvast

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

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.