Microvast (NASDAQ:MVST) Shares Down 5.9% – Here’s Why

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) traded down 5.9% on Tuesday . The company traded as low as $1.46 and last traded at $1.5050. 1,341,114 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 4,138,746 shares. The stock had previously closed at $1.60.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Microvast in a research report on Friday, March 27th. Wall Street Zen lowered Microvast from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, Zacks Research lowered Microvast from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 19th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $3.00.

Microvast Stock Down 6.6%

The company has a quick ratio of 0.74, a current ratio of 0.92 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $496.39 million, a P/E ratio of -6.50 and a beta of 3.59. The company has a 50-day moving average of $2.11 and a two-hundred day moving average of $3.28.

Microvast (NASDAQ:MVST) last released its quarterly earnings results on Monday, March 16th. The company reported ($0.11) earnings per share for the quarter. Microvast had a negative net margin of 6.83% and a positive return on equity of 2.51%. The firm had revenue of $96.40 million for the quarter. On average, research analysts predict that Microvast Holdings, Inc. will post -0.3 EPS for the current year.

Institutional Investors Weigh In On Microvast

Several hedge funds have recently made changes to their positions in MVST. Northwestern Mutual Wealth Management Co. bought a new stake in Microvast in the third quarter worth $32,000. NewEdge Advisors LLC bought a new stake in Microvast in the third quarter worth $38,000. Panagora Asset Management Inc. bought a new stake in Microvast in the fourth quarter worth $30,000. Tidal Investments LLC bought a new stake in Microvast in the second quarter worth $41,000. Finally, California State Teachers Retirement System bought a new stake in Microvast in the second quarter worth $45,000. 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.