Microvast (NASDAQ:MVST) Trading 5.9% Higher – Here’s What Happened

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) rose 5.9% during mid-day trading on Friday . The stock traded as high as $2.55 and last traded at $2.53. Approximately 2,607,047 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 3,980,634 shares. The stock had previously closed at $2.39.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MVST shares. Zacks Research cut Microvast from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Microvast in a report on Monday, December 29th. Finally, Wall Street Zen cut shares of Microvast from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 21st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $3.00.

Microvast Price Performance

The company has a current ratio of 0.84, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $830.30 million, a PE ratio of -4.69 and a beta of 3.36. The stock’s 50-day moving average is $3.03 and its two-hundred day moving average is $3.54.

Microvast (NASDAQ:MVST) last announced its earnings results on Monday, November 10th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $120.02 million. On average, equities analysts predict that Microvast Holdings, Inc. will post -0.3 EPS for the current year.

Insiders Place Their Bets

In other news, Director Yixin Pan sold 12,596 shares of Microvast stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $2.76, for a total transaction of $34,764.96. Following the completion of the sale, the director directly owned 130,739 shares in the company, valued at approximately $360,839.64. This trade represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 44.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MVST. Amalgamated Bank bought a new stake in shares of Microvast in the 2nd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. purchased a new position in Microvast during the third quarter valued at approximately $32,000. Calamos Advisors LLC bought a new position in Microvast in the second quarter worth approximately $38,000. NewEdge Advisors LLC purchased a new stake in Microvast during the third quarter worth $38,000. Finally, Tidal Investments LLC purchased a new stake in Microvast during the second quarter worth $41,000. 20.72% of the stock is currently 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.