Microvast (NASDAQ:MVST) Raised to Buy at Wall Street Zen

Microvast (NASDAQ:MVST) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

MVST has been the subject of several other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Microvast in a research note on Friday, October 31st. Zacks Research downgraded shares of Microvast from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.00.

Microvast Stock Performance

NASDAQ:MVST opened at $4.93 on Friday. Microvast has a 12 month low of $0.17 and a 12 month high of $7.12. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.83 and a quick ratio of 0.56. The firm has a market capitalization of $1.60 billion, a PE ratio of -9.67 and a beta of 3.27. The business’s fifty day moving average price is $4.35 and its 200 day moving average price is $3.61.

Microvast (NASDAQ:MVST) last announced its quarterly earnings results on Monday, August 11th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Microvast had a positive return on equity of 10.32% and a negative net margin of 26.82%.The company had revenue of $91.34 million during the quarter, compared to the consensus estimate of $106.79 million. On average, sell-side analysts anticipate that Microvast will post -0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Microvast

A number of hedge funds have recently modified their holdings of MVST. SBI Securities Co. Ltd. raised its position in Microvast by 351.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 69,989 shares of the company’s stock valued at $82,000 after purchasing an additional 54,496 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new position in Microvast in the first quarter valued at $44,000. Deutsche Bank AG purchased a new stake in shares of Microvast in the first quarter valued at about $58,000. Virtu Financial LLC acquired a new stake in shares of Microvast during the first quarter worth about $120,000. Finally, Rathbones Group PLC purchased a new position in shares of Microvast during the first quarter worth about $53,000. 20.72% of the stock is currently owned by hedge funds and other institutional investors.

Microvast Company Profile

Microvast Holdings, Inc provides battery technologies for electric vehicles and energy storage solutions. The company offers a range of cell chemistries, such as lithium titanate oxide, lithium iron phosphate, and nickel manganese cobalt version 1 and 2. It also designs, develops, and manufactures battery components, such as cathode, anode, electrolyte, and separator.