Microvast (NASDAQ:MVST) Stock Price Target Cut by Cantor Fitzgerald

Microvast (NASDAQ:MVST) had its price target cut by Cantor Fitzgerald to $2.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald‘s target price would indicate a potential upside of 223.89% from the company’s previous close.

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

Microvast Price Performance

Shares of MVST stock opened at $0.62 on Tuesday. The stock’s fifty day simple moving average is $0.61 and its 200 day simple moving average is $1.33. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.09 and a quick ratio of 0.82. The firm has a market cap of $238.31 million, a price-to-earnings ratio of -30.88 and a beta of 3.72. Microvast has a one year low of $0.47 and a one year high of $5.30.

Microvast (NASDAQ:MVST) last released its quarterly earnings data on Monday, November 9th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.22). Microvast had a negative return on equity of 10.34% and a net margin of 13.95%. The company had revenue of $45.81 million for the quarter, compared to analyst estimates of $80.25 million. On average, analysts expect that Microvast will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Microvast

Several institutional investors have recently bought and sold shares of MVST. Commonwealth Equity Services LLC boosted its stake in Microvast by 127.1% in the third quarter. Commonwealth Equity Services LLC now owns 83,875 shares of the company’s stock worth $54,000 after purchasing an additional 46,946 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Microvast by 3.8% in 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 buying an additional 14,638 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Microvast in the second quarter valued at about $294,000. Man Group plc bought a new position in shares of Microvast in the second quarter valued at about $148,000. Finally, Jupiter Topco LLC acquired a new position in Microvast during the 2nd quarter worth about $109,000. 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 offers battery cells, modules and packs, along with related battery components and systems designed for commercial vehicles, specialty vehicles, passenger vehicles and stationary energy storage applications.

Microvast emphasizes a vertically integrated approach that spans battery materials, cell development, manufacturing and system integration. Its product portfolio includes battery technologies based on different chemistries and form factors, allowing it to serve applications with varying requirements for energy density, power, safety, charging performance and operating life.

Founded in 2006 and headquartered in Stafford, Texas, Microvast serves customers in the United States, Europe and Asia.