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

Wall Street Zen downgraded shares of Microvast (NASDAQ:MVST) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning.

Separately, Weiss Ratings reiterated 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 given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.00.

Microvast Trading Down 4.1%

Shares of NASDAQ:MVST opened at $2.12 on Tuesday. The stock has a market capitalization of $695.74 million, a PE ratio of -3.93 and a beta of 3.39. Microvast has a one year low of $1.09 and a one year high of $7.12. The company’s 50-day moving average price is $2.68 and its two-hundred day moving average price is $3.44. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.60.

Insider Activity

In other news, Director Yixin Pan sold 12,596 shares of the company’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $2.76, for a total value 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. This represents a 8.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 44.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Microvast

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Amalgamated Bank bought a new position in Microvast during the 2nd quarter valued at $25,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Microvast in the third quarter valued at about $32,000. NewEdge Advisors LLC bought a new position in shares of Microvast during the third quarter valued at about $38,000. Calamos Advisors LLC bought a new position in shares of Microvast during the second quarter valued at about $38,000. Finally, Panagora Asset Management Inc. bought a new position in shares of Microvast during the fourth quarter valued at about $30,000. 20.72% of the stock is owned by 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.