Microvast (NASDAQ:MVST) Trading 0.9% Higher – Time to Buy?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) shot up 0.9% during trading on Wednesday . The company traded as high as $1.09 and last traded at $1.08. 2,949,058 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 3,523,035 shares. The stock had previously closed at $1.07.

Analysts Set New Price Targets

MVST has been the topic of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Microvast in a research report on Wednesday, June 24th. Zacks Research lowered shares of Microvast from a “hold” rating to a “strong sell” rating in a report on Thursday, March 19th. Finally, Wall Street Zen cut shares of Microvast from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Two research analysts have rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Microvast Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 0.96. The company has a market capitalization of $356.48 million, a P/E ratio of -3.34 and a beta of 3.48. The firm has a 50 day moving average price of $1.38 and a two-hundred day moving average price of $1.99.

Microvast (NASDAQ:MVST) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). Microvast had a negative net margin of 11.52% and a negative return on equity of 6.12%. The company had revenue of $60.61 million during the quarter, compared to analyst estimates of $99.02 million.

Insider Activity

In other Microvast news, CEO Yang Wu sold 46,313 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $1.24, for a total value of $57,428.12. Following the transaction, the chief executive officer directly owned 134,065,439 shares in the company, valued at $166,241,144.36. The trade was a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Wenjuan Mattis sold 48,346 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $1.32, for a total transaction of $63,816.72. Following the sale, the chief technology officer directly owned 932,678 shares of the company’s stock, valued at approximately $1,231,134.96. The trade was a 4.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 105,767 shares of company stock worth $134,360. 44.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Microvast

Hedge funds and other institutional investors have recently bought and sold shares of the business. Panagora Asset Management Inc. acquired a new position in Microvast in the fourth quarter worth $30,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Microvast in the third quarter valued at $32,000. Steward Partners Investment Advisory LLC increased its stake in shares of Microvast by 727.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,796 shares of the company’s stock valued at $36,000 after buying an additional 11,250 shares in the last quarter. Cibc World Markets Corp bought a new position in shares of Microvast in the fourth quarter valued at about $37,000. Finally, NewEdge Advisors LLC bought a new position in shares of Microvast in the third quarter valued at about $38,000. 20.72% of the stock is owned by institutional investors and hedge funds.

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.