Microvast (NASDAQ:MVST) Stock Gets Price Target Reduction from Cantor Fitzgerald

Microvast (NASDAQ:MVST) had its target price cut by Cantor Fitzgerald to $2.00 in a research report released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently weighed in on MVST. Zacks Research raised shares of Microvast from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of Microvast in a research report on Wednesday, November 4th. Finally, HC Wainwright cut their target price on Microvast to $4.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $3.00.

Microvast Trading Down 11.0%

NASDAQ MVST opened at $0.23 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.99 and a quick ratio of 0.82. The stock has a market capitalization of $90.46 million, a P/E ratio of -1.07 and a beta of 3.72. The firm’s 50-day moving average is $0.58 and its two-hundred day moving average is $1.29. Microvast has a 12 month low of $0.20 and a 12 month high of $4.05.

Microvast (NASDAQ:MVST) last announced its quarterly earnings results on Monday, November 9th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.22). The company had revenue of $45.81 million for the quarter, compared to analyst estimates of $80.25 million. Microvast had a negative net margin of 8.29% and a negative return on equity of 28.31%. On average, sell-side analysts anticipate that Microvast will post -0.31 earnings per share for the current year.

Institutional Trading of Microvast

A number of institutional investors and hedge funds have recently bought and sold shares of MVST. Global Retirement Partners LLC purchased a new position in shares of Microvast in the third quarter valued at approximately $33,000. Commonwealth Equity Services LLC increased its stake in Microvast by 127.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 83,875 shares of the company’s stock worth $54,000 after buying an additional 46,946 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Microvast by 3.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 395,914 shares of the company’s stock worth $463,000 after buying an additional 14,638 shares during the period. Bank of America Corp DE acquired a new stake in Microvast during the 2nd quarter worth approximately $294,000. Finally, Man Group plc acquired a new stake in Microvast during the 2nd quarter worth approximately $148,000. 20.72% of the stock is currently owned by hedge funds and other institutional investors.

Microvast Company Profile

Microvast Holdings, Inc. develops and manufactures lithium-ion battery technologies and battery systems. Its products include battery cells, modules and packs, along with related systems designed to support integration and operation. The company serves commercial and specialty vehicle markets, including applications such as buses, trucks and other transportation equipment. It also develops battery solutions for energy storage and other industrial uses. Founded in 2006, Microvast has operations serving customers in North America, Europe and Asia.