Microvast (NASDAQ:MVST) Shares Gap Up – Time to Buy?

Microvast Holdings, Inc. (NASDAQ:MVST)’s share price gapped up before the market opened on Monday . The stock had previously closed at $2.23, but opened at $2.55. Microvast shares last traded at $2.52, with a volume of 2,370,938 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MVST shares. Wall Street Zen lowered shares of Microvast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Microvast in a research note on Monday, December 29th. One equities 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 stock. According to data from MarketBeat.com, Microvast currently has an average rating of “Hold” and an average price target of $3.00.

Microvast Stock Up 7.7%

The firm has a fifty day simple moving average of $2.60 and a 200 day simple moving average of $3.43. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.60 and a current ratio of 0.84. The company has a market cap of $787.96 million, a PE ratio of -4.45 and a beta of 3.39.

Insider Transactions at Microvast

In related news, Director Yixin Pan sold 12,596 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $2.76, for a total transaction of $34,764.96. Following the completion of the transaction, the director owned 130,739 shares of the company’s stock, valued at approximately $360,839.64. This 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. Insiders own 44.80% of the company’s stock.

Institutional Trading of Microvast

Institutional investors have recently made changes to their positions in the stock. Panagora Asset Management Inc. purchased a new position in shares of Microvast in the 4th quarter worth $30,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Microvast in the 3rd quarter worth about $32,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Microvast by 727.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,796 shares of the company’s stock valued at $36,000 after purchasing an additional 11,250 shares in the last quarter. Cibc World Markets Corp purchased a new stake in shares of Microvast during the 4th quarter worth about $37,000. Finally, Calamos Advisors LLC acquired a new stake in Microvast during the 2nd quarter worth approximately $38,000. 20.72% of the stock is owned by hedge funds and other institutional investors.

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.