Microvast (NASDAQ:MVST) Lowered to Strong Sell Rating by Zacks Research

Microvast (NASDAQ:MVST) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other brokerages have also weighed in on MVST. Weiss Ratings restated a “sell (d-)” rating on shares of Microvast in a research note on Monday, December 29th. Wall Street Zen cut Microvast from a “buy” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $3.00.

Microvast Stock Performance

NASDAQ:MVST opened at $1.60 on Thursday. The firm has a 50-day moving average of $2.45 and a two-hundred day moving average of $3.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.92 and a quick ratio of 0.60. The stock has a market cap of $531.25 million, a P/E ratio of -6.96 and a beta of 3.39. Microvast has a 1-year low of $1.09 and a 1-year high of $7.12.

Microvast (NASDAQ:MVST) last announced its earnings results on Monday, March 16th. The company reported ($0.11) earnings per share (EPS) for the quarter. Microvast had a positive return on equity of 2.51% and a negative net margin of 6.83%.The business had revenue of $96.40 million for the quarter. On average, research analysts expect that Microvast will post -0.3 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Microvast

Institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in shares of Microvast in the 3rd quarter worth approximately $1,745,000. Geode Capital Management LLC raised its position in shares of Microvast by 117.3% during the 2nd quarter. Geode Capital Management LLC now owns 4,635,584 shares of the company’s stock valued at $16,830,000 after acquiring an additional 2,502,565 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Microvast by 680,832.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,118,671 shares of the company’s stock valued at $11,321,000 after acquiring an additional 3,118,213 shares in the last quarter. Intech Investment Management LLC bought a new position in Microvast during the second quarter worth $384,000. Finally, ProShare Advisors LLC acquired a new position in Microvast in the second quarter worth $148,000. 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.