Microvast (NASDAQ:MVST) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen cut shares of Microvast (NASDAQ:MVST) from a strong-buy rating to a buy rating in a report released on Tuesday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microvast in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $3.00.

Microvast Stock Down 2.7%

NASDAQ:MVST opened at $2.13 on Tuesday. 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 stock has a 50 day moving average of $2.72 and a 200-day moving average of $3.46. The firm has a market capitalization of $699.02 million, a PE ratio of -3.94 and a beta of 3.39. Microvast has a 52 week low of $1.09 and a 52 week high of $7.12.

Insiders Place Their Bets

In other Microvast news, Director Yixin Pan sold 12,596 shares of the business’s 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 transaction, the director owned 130,739 shares in the company, valued at approximately $360,839.64. The trade was a 8.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 44.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Microvast

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in Microvast by 680,832.5% during 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 acquiring an additional 2,502,565 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Microvast by 101.6% during the 1st quarter. Millennium Management LLC now owns 4,646,060 shares of the company’s stock worth $5,436,000 after acquiring an additional 2,341,637 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Microvast by 4,632.7% in the 4th quarter. First Trust Advisors LP now owns 2,088,304 shares of the company’s stock worth $5,847,000 after acquiring an additional 2,044,179 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Microvast by 14.6% during the third quarter. Vanguard Group Inc. now owns 12,010,655 shares of the company’s stock worth $46,241,000 after purchasing an additional 1,533,708 shares during the period. 20.72% of the stock is currently 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.