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

Zacks Research upgraded shares of Microvast (NASDAQ:MVST) from a strong sell rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research analysts also recently issued reports on MVST. Weiss Ratings restated a “sell (d-)” rating on shares of Microvast in a research report on Wednesday, June 24th. Wall Street Zen downgraded Microvast from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Microvast has a consensus rating of “Reduce”.

Microvast Price Performance

Shares of NASDAQ:MVST opened at $0.97 on Monday. Microvast has a twelve month low of $0.94 and a twelve month high of $7.12. 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 company has a market cap of $323.27 million, a PE ratio of -3.03 and a beta of 3.48. The company’s 50 day moving average is $1.32 and its 200 day moving average is $1.94.

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

Insider Activity at Microvast

In related news, CTO Wenjuan Mattis sold 48,346 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $1.32, for a total transaction of $63,816.72. Following the sale, the chief technology officer owned 932,678 shares in the company, valued at approximately $1,231,134.96. This trade represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $1.24, for a total transaction of $57,428.12. Following the sale, the chief executive officer owned 134,065,439 shares in the company, valued at approximately $166,241,144.36. This represents a 0.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 105,767 shares of company stock valued at $134,360. Insiders own 44.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MVST. Panagora Asset Management Inc. acquired a new stake in shares of Microvast during the 4th quarter valued at about $30,000. Northwestern Mutual Wealth Management Co. purchased a new position in Microvast during the third quarter worth approximately $32,000. Steward Partners Investment Advisory LLC boosted its position in Microvast by 727.7% during the fourth 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 Microvast in the fourth quarter valued at approximately $37,000. Finally, NewEdge Advisors LLC acquired a new stake in Microvast in the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 20.72% of the company’s stock.

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.