Microvast (NASDAQ:MVST) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Microvast (NASDAQ:MVST) from a buy rating to a strong-buy rating in a research note published on Saturday morning.

A number of other research firms have also weighed in on MVST. Zacks Research lowered shares of Microvast from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Microvast in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Microvast currently has a consensus rating of “Hold” and an average price target of $3.00.

Microvast Price Performance

NASDAQ:MVST opened at $2.58 on Friday. The business’s 50-day moving average is $3.01 and its 200 day moving average is $3.53. Microvast has a 12 month low of $1.09 and a 12 month high of $7.12. The company has a market capitalization of $846.70 million, a P/E ratio of -4.78 and a beta of 3.36. The company has a current ratio of 0.84, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21.

Microvast (NASDAQ:MVST) last released its quarterly earnings results on Monday, November 10th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $123.29 million for the quarter, compared to analysts’ expectations of $120.02 million. On average, equities research analysts forecast that Microvast will post -0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Yixin Pan sold 12,596 shares of the stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $2.76, for a total value of $34,764.96. Following the sale, the director owned 130,739 shares of the company’s stock, valued at approximately $360,839.64. This represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 44.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Microvast

Several hedge funds have recently added to or reduced their stakes in MVST. Amalgamated Bank bought a new stake in Microvast in the second quarter worth about $25,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Microvast in the third quarter worth approximately $32,000. Calamos Advisors LLC bought a new stake in shares of Microvast during the 2nd quarter worth approximately $38,000. NewEdge Advisors LLC bought a new stake in shares of Microvast during the 3rd quarter worth approximately $38,000. Finally, Tidal Investments LLC purchased a new position in Microvast during the 2nd quarter valued at $41,000. 20.72% of the stock is currently owned by institutional investors.

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.