Microvast (NASDAQ:MVST) Trading 5.9% Higher – Should You Buy?

Microvast Holdings, Inc. (NASDAQ:MVST)’s stock price traded up 5.9% during mid-day trading on Friday . The company traded as high as $2.55 and last traded at $2.53. 2,607,047 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 3,980,634 shares. The stock had previously closed at $2.39.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MVST shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microvast in a research report on Monday, December 29th. Wall Street Zen lowered shares of Microvast from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 21st. Finally, Zacks Research cut shares of Microvast from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $3.00.

Microvast Stock Up 5.9%

The company has a 50-day moving average of $3.03 and a 200-day moving average of $3.54. The company has a current ratio of 0.84, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $830.30 million, a price-to-earnings ratio of -4.69 and a beta of 3.36.

Microvast (NASDAQ:MVST) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Microvast had a positive return on equity of 11.34% and a negative net margin of 28.81%.The business had revenue of $123.29 million for the quarter, compared to analysts’ expectations of $120.02 million. On average, equities analysts predict that Microvast Holdings, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Microvast news, Director Yixin Pan sold 12,596 shares of the business’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 sale, the director owned 130,739 shares of the company’s stock, valued at approximately $360,839.64. The trade was a 8.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 44.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Microvast

Several hedge funds have recently made changes to their positions in the company. Amalgamated Bank purchased a new position in Microvast in the 2nd quarter worth $25,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Microvast in the third quarter valued at about $32,000. Calamos Advisors LLC acquired a new position in shares of Microvast in the second quarter valued at about $38,000. NewEdge Advisors LLC purchased a new position in shares of Microvast in the third quarter worth about $38,000. Finally, Tidal Investments LLC acquired a new stake in shares of Microvast during the second quarter worth about $41,000. 20.72% of the stock is owned by institutional investors and hedge funds.

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.