Microvast (NASDAQ:MVST) Trading 6.9% Higher – Time to Buy?
by Kim Johansen · The Markets DailyMicrovast Holdings, Inc. (NASDAQ:MVST – Get Free Report) shares shot up 6.9% during mid-day trading on Wednesday . The company traded as high as $2.24 and last traded at $2.2350. 1,479,358 shares changed hands during trading, a decline of 56% from the average session volume of 3,328,512 shares. The stock had previously closed at $2.09.
Analysts Set New Price Targets
Several research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Microvast in a research report on Monday, December 29th. Wall Street Zen lowered shares of Microvast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 3rd. One 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $3.00.
View Our Latest Analysis on Microvast
Microvast Stock Up 2.8%
The company has a quick ratio of 0.60, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock has a 50-day simple moving average of $2.61 and a two-hundred day simple moving average of $3.42. The firm has a market cap of $731.85 million, a PE ratio of -4.13 and a beta of 3.39.
Insider Buying and Selling at Microvast
In related news, Director Yixin Pan sold 12,596 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $2.76, for a total transaction of $34,764.96. Following the transaction, the director directly owned 130,739 shares of the company’s stock, valued at approximately $360,839.64. This trade represents a 8.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 44.80% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Microvast during the first quarter worth approximately $213,000. Millennium Management LLC boosted its stake in shares of Microvast by 101.6% in the 1st quarter. Millennium Management LLC now owns 4,646,060 shares of the company’s stock valued at $5,436,000 after purchasing an additional 2,341,637 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Microvast by 158.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,606,896 shares of the company’s stock valued at $1,880,000 after purchasing an additional 986,335 shares during the last quarter. Wedbush Securities Inc. bought a new position in shares of Microvast during the 2nd quarter valued at $145,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Microvast in the 2nd quarter worth $847,000. 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.