Microvast (NASDAQ:MVST) Shares Up 10.1% – Should You Buy?

Microvast Holdings, Inc. (NASDAQ:MVST)’s share price shot up 10.1% during trading on Monday . The company traded as high as $3.09 and last traded at $3.1050. 1,623,286 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 2,269,317 shares. The stock had previously closed at $2.82.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MVST. Zacks Research lowered Microvast from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Wall Street Zen downgraded shares of Microvast from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microvast in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.00.

Microvast Trading Up 11.2%

The stock has a fifty day moving average of $3.73 and a two-hundred day moving average of $3.64. The company has a market capitalization of $1.03 billion, a PE ratio of -5.81 and a beta of 3.37. The company has a current ratio of 0.84, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21.

Microvast (NASDAQ:MVST) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Microvast had a negative net margin of 28.81% and a positive return on equity of 11.34%. The business had revenue of $123.29 million for the quarter, compared to the consensus estimate of $120.02 million. As a group, sell-side analysts anticipate that Microvast Holdings, Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its holdings in shares of Microvast by 680,832.5% in the second quarter. JPMorgan Chase & Co. now owns 3,118,671 shares of the company’s stock worth $11,321,000 after buying an additional 3,118,213 shares during the period. Geode Capital Management LLC raised its holdings in Microvast by 117.3% during the 2nd quarter. Geode Capital Management LLC now owns 4,635,584 shares of the company’s stock valued at $16,830,000 after buying an additional 2,502,565 shares during the last quarter. Millennium Management LLC boosted its position in Microvast by 101.6% during the 1st quarter. Millennium Management LLC now owns 4,646,060 shares of the company’s stock valued at $5,436,000 after buying an additional 2,341,637 shares during the period. Vanguard Group Inc. grew its holdings in Microvast by 14.6% in the 3rd quarter. Vanguard Group Inc. now owns 12,010,655 shares of the company’s stock worth $46,241,000 after acquiring an additional 1,533,708 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Microvast by 349.0% in the second quarter. Bank of America Corp DE now owns 1,636,970 shares of the company’s stock valued at $5,942,000 after acquiring an additional 1,272,420 shares during the period. 20.72% of the stock is owned by 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.