Microvast (NASDAQ:MVST) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Microvast (NASDAQ:MVST) issued its earnings results on Monday. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.10, Zacks reports. Microvast had a negative return on equity of 22.10% and a negative net margin of 30.88%.

Microvast Trading Up 8.6%

Shares of NASDAQ MVST traded up $0.19 during trading hours on Monday, reaching $2.39. The stock had a trading volume of 16,173,656 shares, compared to its average volume of 11,722,749. The company has a current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24. The firm has a market cap of $778.16 million, a price-to-earnings ratio of -6.29 and a beta of 2.72. The business’s fifty day moving average price is $1.69 and its two-hundred day moving average price is $1.52. Microvast has a 52-week low of $0.15 and a 52-week high of $2.87.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $3.00 target price on shares of Microvast in a research report on Tuesday, April 8th.

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.