Microvast (NASDAQ:MVST) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Microvast (NASDAQ:MVST) from a buy rating to a hold rating in a report issued on Saturday morning.

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

Microvast Trading Down 3.6%

NASDAQ MVST opened at $1.60 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.92 and a debt-to-equity ratio of 0.13. Microvast has a 52 week low of $1.09 and a 52 week high of $7.12. The business has a 50 day moving average price of $2.45 and a 200-day moving average price of $3.39. The company has a market cap of $531.25 million, a price-to-earnings ratio of -6.96 and a beta of 3.39.

Microvast (NASDAQ:MVST) last issued its earnings results on Monday, March 16th. The company reported ($0.11) earnings per share (EPS) for the quarter. Microvast had a positive return on equity of 2.51% and a negative net margin of 6.83%.The firm had revenue of $96.40 million during the quarter. As a group, equities analysts expect that Microvast will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at Microvast

In other Microvast news, Director Yixin Pan sold 12,596 shares of the stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $2.76, for a total value of $34,764.96. Following the completion of the sale, the director owned 130,739 shares in the company, valued at approximately $360,839.64. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 44.80% of the company’s stock.

Hedge Funds Weigh In On Microvast

Several institutional investors have recently modified their holdings of the business. Quantbot Technologies LP purchased a new position in Microvast in the third quarter valued at about $1,745,000. Geode Capital Management LLC increased its stake 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 worth $16,830,000 after purchasing an additional 2,502,565 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Microvast by 680,832.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,118,671 shares of the company’s stock worth $11,321,000 after purchasing an additional 3,118,213 shares during the period. Intech Investment Management LLC bought a new stake in shares of Microvast in the 2nd quarter worth approximately $384,000. Finally, ProShare Advisors LLC purchased a new position in Microvast in the second quarter valued at approximately $148,000. 20.72% of the stock is 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.