Microvast (NASDAQ:MVST) Shares Up 7.2% – Should You Buy?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) shot up 7.2% during trading on Thursday . The company traded as high as $1.5650 and last traded at $1.5550. 760,588 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 4,396,380 shares. The stock had previously closed at $1.45.

Analysts Set New Price Targets

A number of brokerages have recently commented on MVST. Wall Street Zen lowered shares of Microvast from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Zacks Research lowered shares of Microvast from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Microvast in a report on Friday, March 27th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Microvast Trading Up 13.4%

The business’s 50-day moving average price is $1.65 and its 200 day moving average price is $2.49. The company has a market cap of $548.04 million, a P/E ratio of -5.14 and a beta of 3.60. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 0.96.

Microvast (NASDAQ:MVST) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $60.61 million during the quarter, compared to the consensus estimate of $99.02 million.

Insider Activity at Microvast

In other news, CTO Wenjuan Mattis sold 48,346 shares of Microvast stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $1.32, for a total value of $63,816.72. Following the completion of the transaction, the chief technology officer owned 932,678 shares of the company’s stock, valued at $1,231,134.96. This trade represents a 4.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 44.80% of the stock is currently owned by company insiders.

Institutional Trading of Microvast

A number of hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP bought a new stake in shares of Microvast during the 3rd quarter worth about $1,745,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Microvast during the 4th quarter worth about $136,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Microvast during the 4th quarter worth about $451,000. SG Americas Securities LLC boosted its holdings in shares of Microvast by 117.3% during the 4th quarter. SG Americas Securities LLC now owns 75,095 shares of the company’s stock worth $210,000 after buying an additional 40,532 shares during the period. Finally, Picton Mahoney Asset Management acquired a new position in shares of Microvast in the third quarter valued at about $771,000. Institutional investors and hedge funds 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.