Microvast (NASDAQ:MVST) Stock Price Down 6.1% – Time to Sell?

by · The Markets Daily

Shares of Microvast Holdings, Inc. (NASDAQ:MVST – Get Free Report) traded down 6.1% during trading on Monday. The stock traded as low as $0.6430 and last traded at $0.6461. 2,654,623 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 6,882,443 shares. The stock had previously closed at $0.6881.

Analyst Upgrades and Downgrades

MVST has been the topic of several analyst reports. HC Wainwright lowered their price target on shares of Microvast to $4.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Weiss Ratings raised shares of Microvast from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Finally, Zacks Research upgraded shares of Microvast from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.00.

Check Out Our Latest Stock Report on Microvast

Microvast Stock Down 6.1%

The stock has a market capitalization of $248.44 million, a P/E ratio of -32.30 and a beta of 3.55. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.03. The firm’s fifty day moving average is $0.75 and its 200-day moving average is $1.23.

Microvast (NASDAQ:MVST – Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.01) earnings per share for the quarter. The firm had revenue of $87.26 million for the quarter, compared to the consensus estimate of $94.40 million. Microvast had a negative return on equity of 10.34% and a net margin of 13.95%. As a group, equities research analysts predict that Microvast Holdings, Inc. will post -0.05 earnings per share for the current year.

Institutional Investors Weigh In On Microvast

A number of large investors have recently bought and sold shares of MVST. Allspring Global Investments Holdings LLC raised its position in Microvast by 11.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 54,060 shares of the company’s stock valued at $79,000 after purchasing an additional 5,547 shares during the last quarter. Swiss National Bank boosted its stake in Microvast by 2.9% in the first quarter. Swiss National Bank now owns 422,000 shares of the company’s stock worth $633,000 after purchasing an additional 11,900 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Microvast by 3.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 395,914 shares of the company’s stock worth $463,000 after purchasing an additional 14,638 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Microvast by 423.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 23,703 shares of the company’s stock worth $66,000 after purchasing an additional 19,173 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Microvast during the second quarter worth $34,000. 20.72% of the stock is currently owned by institutional investors.

Microvast Company Profile

(Get Free Report)

Microvast Holdings, Inc develops and manufactures lithium-ion battery technologies and energy-storage solutions. The company designs battery cells, modules and packs for commercial electric vehicles, including buses, trucks, delivery vehicles, specialty vehicles and other mobility applications. It also develops battery systems for stationary energy-storage uses.

Microvast emphasizes vertically integrated battery production, with capabilities spanning materials and components such as cathodes, anodes, separators and electrolytes, as well as cell and battery-system assembly.

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