Microvast (NASDAQ:MVST) Trading 10.1% Higher – Time to Buy?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) shot up 10.1% on Monday . The stock traded as high as $3.09 and last traded at $3.1050. 1,623,286 shares changed hands during trading, a decline of 28% from the average session volume of 2,269,317 shares. The stock had previously closed at $2.82.

Analysts Set New Price Targets

MVST has been the subject of a number of recent research reports. Zacks Research cut Microvast from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microvast in a research note on Monday, December 29th. Finally, Wall Street Zen lowered shares of Microvast from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 21st. One equities research 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, the company presently has an average rating of “Hold” and an average price target of $3.00.

Microvast Price Performance

The business has a 50-day moving average price of $3.73 and a two-hundred day moving average price of $3.64. 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 company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -5.81 and a beta of 3.37.

Microvast (NASDAQ:MVST) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Microvast had a negative net margin of 28.81% and a positive return on equity of 11.34%. The business had revenue of $123.29 million for the quarter, compared to the consensus estimate of $120.02 million. As a group, research analysts anticipate that Microvast Holdings, Inc. will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Microvast

A number of hedge funds have recently bought and sold shares of the company. Amalgamated Bank purchased a new position in shares of Microvast in the 2nd quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Microvast during the third quarter valued at about $32,000. NewEdge Advisors LLC bought a new position in Microvast during the third quarter worth about $38,000. Calamos Advisors LLC purchased a new position in shares of Microvast in the second quarter worth about $38,000. Finally, Tidal Investments LLC bought a new stake in shares of Microvast in the second quarter valued at approximately $41,000. 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.