Microvast (NASDAQ:MVST) Stock Price Down 6.1% – Here’s Why

Microvast Holdings, Inc. (NASDAQ:MVST) fell 6.1% during trading on Monday. The stock traded as low as $0.6430 and last traded at $0.6461. Approximately 2,654,623 shares traded hands during trading, a decline of 61% from the average daily volume of 6,882,443 shares. The stock had previously closed at $0.6881.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Zacks Research upgraded Microvast from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. HC Wainwright lowered their price objective on shares of Microvast to $4.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Finally, Weiss Ratings raised shares of Microvast from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $4.00.

Microvast Price Performance

The stock has a market capitalization of $252.25 million, a P/E ratio of -32.85 and a beta of 3.55. The business has a fifty day simple moving average of $0.75 and a 200 day simple moving average of $1.21. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.03.

Microvast (NASDAQ:MVST) last posted its earnings results on Tuesday, August 11th. The company reported ($0.01) earnings per share for the quarter. The company had revenue of $87.26 million during the quarter, compared to the consensus estimate of $94.40 million. Microvast had a net margin of 13.95% and a negative return on equity of 10.34%. On average, analysts expect that Microvast Holdings, Inc. will post -0.05 earnings per share for the current year.

Institutional Trading of Microvast

Several institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Microvast by 3.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 395,914 shares of the company’s stock valued at $463,000 after purchasing an additional 14,638 shares in the last quarter. Bank of America Corp DE purchased a new stake in Microvast in the 2nd quarter valued at about $294,000. Man Group plc bought a new position in shares of Microvast during the 2nd quarter worth approximately $148,000. Jupiter Topco LLC bought a new position in shares of Microvast during the 2nd quarter worth approximately $109,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Microvast in the 2nd quarter worth approximately $34,000. Institutional investors own 20.72% of the company’s stock.

Microvast Company Profile

Microvast Holdings, Inc develops and manufactures lithium-ion battery technologies and energy-storage solutions. The company designs battery cells, modules and packs for commercial electric vehicles, including buses, trucks, delivery vehicles, specialty vehicles and other mobility applications. It also develops battery systems for stationary energy-storage uses.

Microvast emphasizes vertically integrated battery production, with capabilities spanning materials and components such as cathodes, anodes, separators and electrolytes, as well as cell and battery-system assembly.