Microvast (NASDAQ:MVST) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

Microvast Holdings, Inc. (NASDAQ:MVST)’s share price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $0.62 and traded as high as $0.6833. Microvast shares last traded at $0.6649, with a volume of 3,690,805 shares traded.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Microvast from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. HC Wainwright decreased their target price on shares of Microvast to $4.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Finally, Weiss Ratings upgraded shares of Microvast from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Microvast has a consensus rating of “Hold” and a consensus price target of $4.00.

Microvast Price Performance

The company has a market cap of $256.60 million, a PE ratio of -33.25 and a beta of 3.72. The business has a 50 day moving average of $0.62 and a 200 day moving average of $1.36. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.09 and a quick ratio of 0.82.

Microvast (NASDAQ:MVST) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.01) earnings per share (EPS) for the quarter. Microvast had a net margin of 13.95% and a negative return on equity of 10.34%. The company had revenue of $87.26 million for the quarter, compared to analysts’ expectations of $94.40 million. As a group, research analysts predict that Microvast Holdings, Inc. will post -0.05 EPS for the current year.

Hedge Funds Weigh In On Microvast

Several hedge funds and other institutional investors have recently modified their holdings of MVST. Commonwealth Equity Services LLC raised its position in shares of Microvast by 127.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 83,875 shares of the company’s stock worth $54,000 after acquiring an additional 46,946 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Microvast by 3.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 395,914 shares of the company’s stock valued at $463,000 after purchasing an additional 14,638 shares during the period. Bank of America Corp DE purchased a new position in shares of Microvast in the 2nd quarter valued at approximately $294,000. Man Group plc bought a new stake in shares of Microvast during the second quarter valued at approximately $148,000. Finally, Jupiter Topco LLC bought a new stake in shares of Microvast during the second quarter valued at approximately $109,000. Hedge funds and other institutional investors own 20.72% of the company’s stock.

About Microvast

Microvast Holdings, Inc develops and manufactures lithium-ion battery technologies and energy storage solutions. The company offers battery cells, modules and packs, along with related battery components and systems designed for commercial vehicles, specialty vehicles, passenger vehicles and stationary energy storage applications.

Microvast emphasizes a vertically integrated approach that spans battery materials, cell development, manufacturing and system integration. Its product portfolio includes battery technologies based on different chemistries and form factors, allowing it to serve applications with varying requirements for energy density, power, safety, charging performance and operating life.

Founded in 2006 and headquartered in Stafford, Texas, Microvast serves customers in the United States, Europe and Asia.