Microvast (NASDAQ:MVST) Shares Down 5.9% – Here’s Why

Microvast Holdings, Inc. (NASDAQ:MVST)’s share price traded down 5.9% during trading on Tuesday . The stock traded as low as $1.46 and last traded at $1.5050. 1,341,114 shares were traded during mid-day trading, a decline of 68% from the average session volume of 4,138,746 shares. The stock had previously closed at $1.60.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wall Street Zen downgraded Microvast from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Zacks Research downgraded Microvast from a “hold” rating to a “strong sell” rating in a report on Thursday, March 19th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Microvast in a report on Friday, March 27th. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $3.00.

Microvast Stock Down 6.6%

The company has a 50 day moving average price of $2.11 and a two-hundred day moving average price of $3.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.92 and a quick ratio of 0.74. The stock has a market cap of $496.39 million, a PE ratio of -6.50 and a beta of 3.59.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quantbot Technologies LP purchased a new position in shares of Microvast in the third quarter worth $1,745,000. JPMorgan Chase & Co. raised its stake 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 purchasing an additional 3,118,213 shares during the last quarter. R Squared Ltd purchased a new position in shares of Microvast in the third quarter worth $56,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Microvast in the third quarter worth $510,000. Finally, Jupiter Asset Management Ltd. purchased a new stake in Microvast during the third quarter valued at $741,000. Hedge funds and other institutional investors own 20.72% of the company’s stock.

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.