Microvast (NASDAQ:MVST) Sees Large Volume Increase – Here’s Why
by Sarita Garza · The Markets DailyMicrovast Holdings, Inc. (NASDAQ:MVST – Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 2,413,963 shares were traded during mid-day trading, a decline of 41% from the previous session’s volume of 4,077,037 shares.The stock last traded at $1.8060 and had previously closed at $1.52.
Wall Street Analysts Forecast Growth
MVST has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Microvast in a research report on Monday, December 29th. Wall Street Zen lowered Microvast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $3.00.
Read Our Latest Analysis on Microvast
Microvast Stock Performance
The firm’s 50 day simple moving average is $2.49 and its 200-day simple moving average is $3.40. The company has a market capitalization of $551.17 million, a price-to-earnings ratio of -7.22 and a beta of 3.39. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.60 and a current ratio of 0.92.
Microvast (NASDAQ:MVST – Get Free Report) last issued its earnings results on Monday, March 16th. The company reported ($0.11) EPS 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.
Insider Buying and Selling
In other Microvast 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 44.80% of the company’s stock.
Institutional Trading of Microvast
A number of hedge funds have recently made changes to their positions in MVST. Quantbot Technologies LP purchased a new position in Microvast during the third quarter valued at approximately $1,745,000. Geode Capital Management LLC lifted its position in Microvast by 117.3% in the 2nd quarter. Geode Capital Management LLC now owns 4,635,584 shares of the company’s stock worth $16,830,000 after buying an additional 2,502,565 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Microvast by 680,832.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,118,671 shares of the company’s stock valued at $11,321,000 after buying an additional 3,118,213 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Microvast during the 2nd quarter valued at $384,000. Finally, ProShare Advisors LLC purchased a new position in shares of Microvast during the 2nd quarter valued at $148,000. 20.72% of the stock is owned by hedge funds and other 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.