Microvast (NASDAQ:MVST) Stock Price Up 6.9% – Time to Buy?

Microvast Holdings, Inc. (NASDAQ:MVST) shares shot up 6.9% during trading on Wednesday . The stock traded as high as $2.24 and last traded at $2.2350. 1,479,358 shares traded hands during trading, a decline of 56% from the average session volume of 3,328,512 shares. The stock had previously closed at $2.09.

Analysts Set New Price Targets

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

Microvast Stock Performance

The company has a current ratio of 0.84, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $723.64 million, a price-to-earnings ratio of -4.10 and a beta of 3.39. The stock’s fifty day simple moving average is $2.64 and its 200-day simple moving average is $3.44.

Insider Activity

In related news, Director Yixin Pan sold 12,596 shares of Microvast stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $2.76, for a total value of $34,764.96. Following the completion of the transaction, the director directly owned 130,739 shares in the company, valued at approximately $360,839.64. This trade represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 44.80% of the company’s stock.

Institutional Investors Weigh In On Microvast

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Microvast by 14.6% in the 3rd quarter. Vanguard Group Inc. now owns 12,010,655 shares of the company’s stock valued at $46,241,000 after purchasing an additional 1,533,708 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Microvast by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 4,842,635 shares of the company’s stock worth $13,561,000 after buying an additional 212,228 shares during the period. Millennium Management LLC raised its holdings in Microvast by 101.6% in the first quarter. Millennium Management LLC now owns 4,646,060 shares of the company’s stock valued at $5,436,000 after acquiring an additional 2,341,637 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Microvast by 31.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,859,317 shares of the company’s stock worth $10,806,000 after acquiring an additional 927,013 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Microvast by 680,832.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,118,671 shares of the company’s stock worth $11,321,000 after acquiring an additional 3,118,213 shares in the last quarter. Hedge funds and other institutional investors own 20.72% of the company’s stock.

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.