Microvast (NASDAQ:MVST) Shares Gap Down – Here’s What Happened

Microvast Holdings, Inc. (NASDAQ:MVST)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $2.31, but opened at $1.70. Microvast shares last traded at $1.7650, with a volume of 7,775,292 shares traded.

Wall Street Analyst Weigh In

Several research firms have weighed in on MVST. Weiss Ratings restated a “sell (d-)” rating on shares of Microvast in a research report on Monday, December 29th. Wall Street Zen cut shares of Microvast from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Microvast currently has a consensus rating of “Hold” and an average price target of $3.00.

Microvast Stock Performance

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 market cap of $559.55 million, a price-to-earnings ratio of -3.16 and a beta of 3.39. The company has a 50 day simple moving average of $2.58 and a 200 day simple moving average of $3.43.

Microvast (NASDAQ:MVST) last posted its quarterly earnings results on Monday, March 16th. The company reported ($0.11) earnings per share for the quarter. The company had revenue of $96.40 million during the quarter. Microvast had a negative net margin of 28.81% and a positive return on equity of 11.34%. As a group, equities research analysts forecast that Microvast Holdings, Inc. will post -0.3 EPS for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. SG Americas Securities LLC grew its position in Microvast by 13.3% during the 3rd quarter. SG Americas Securities LLC now owns 34,563 shares of the company’s stock worth $133,000 after acquiring an additional 4,060 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Microvast by 73.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 14,644 shares of the company’s stock valued at $41,000 after purchasing an additional 6,219 shares during the last quarter. AQR Capital Management LLC raised its position in Microvast by 18.2% in the fourth quarter. AQR Capital Management LLC now owns 57,110 shares of the company’s stock valued at $160,000 after purchasing an additional 8,800 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in shares of Microvast during the third quarter valued at about $38,000. Finally, Verition Fund Management LLC boosted its stake in shares of Microvast by 6.4% during the third quarter. Verition Fund Management LLC now owns 165,604 shares of the company’s stock valued at $638,000 after purchasing an additional 9,901 shares in the last quarter. 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.