Wall Street Zen Upgrades Microvast (NASDAQ:MVST) to Strong-Buy

Microvast (NASDAQ:MVST) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microvast in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $3.00.

Microvast Stock Up 5.2%

MVST opened at $2.22 on Monday. The company has a market cap of $728.56 million, a PE ratio of -4.11 and a beta of 3.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.60 and a current ratio of 0.84. Microvast has a 1 year low of $1.09 and a 1 year high of $7.12. The firm has a 50 day moving average price of $2.79 and a 200 day moving average price of $3.48.

Insider Buying and Selling at Microvast

In other news, Director Yixin Pan sold 12,596 shares of Microvast stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $2.76, for a total transaction of $34,764.96. Following the sale, the director directly owned 130,739 shares of the company’s stock, valued at approximately $360,839.64. The trade was a 8.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 44.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Microvast

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Microvast by 14.6% in the 3rd quarter. Vanguard Group Inc. now owns 12,010,655 shares of the company’s stock valued at $46,241,000 after purchasing an additional 1,533,708 shares in the last quarter. Geode Capital Management LLC raised its holdings in Microvast by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 4,842,635 shares of the company’s stock valued at $13,561,000 after acquiring an additional 212,228 shares in the last quarter. Millennium Management LLC boosted its stake in Microvast by 101.6% during the 1st quarter. Millennium Management LLC now owns 4,646,060 shares of the company’s stock valued at $5,436,000 after acquiring an additional 2,341,637 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Microvast by 31.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,859,317 shares of the company’s stock worth $10,806,000 after acquiring an additional 927,013 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Microvast by 680,832.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,118,671 shares of the company’s stock worth $11,321,000 after purchasing an additional 3,118,213 shares during the last quarter. 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.