Stock Traders Buy Large Volume of Call Options on Microvast (NASDAQ:MVST)

Microvast Holdings, Inc. (NASDAQ:MVST) saw some unusual options trading on Tuesday. Investors bought 6,015 call options on the stock. This represents an increase of approximately 89% compared to the typical daily volume of 3,182 call options.

Hedge Funds Weigh In On Microvast

Several institutional investors have recently modified their holdings of MVST. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Microvast during the 1st quarter valued at about $213,000. Millennium Management LLC lifted its holdings in shares of 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 purchasing an additional 2,341,637 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Microvast by 158.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,606,896 shares of the company’s stock valued at $1,880,000 after purchasing an additional 986,335 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Microvast during the 2nd quarter valued at about $1,006,000. Finally, Rhumbline Advisers bought a new position in shares of Microvast during the 2nd quarter valued at about $1,046,000. Institutional investors own 20.72% of the company’s stock.

Microvast Trading Down 30.0%

Shares of Microvast stock traded down $0.61 during trading on Tuesday, hitting $1.42. 16,972,704 shares of the company were exchanged, compared to its average volume of 4,133,984. The firm has a market capitalization of $469.82 million, a P/E ratio of -6.15 and a beta of 3.60. Microvast has a 1-year low of $1.26 and a 1-year high of $7.12. The firm’s fifty day moving average price is $1.84 and its 200 day moving average price is $2.82. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.92 and a quick ratio of 0.74.

Microvast (NASDAQ:MVST) last posted its earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). The company had revenue of $60.61 million for the quarter, compared to analyst estimates of $99.02 million. Microvast had a positive return on equity of 2.51% and a negative net margin of 6.83%. As a group, sell-side analysts expect that Microvast will post 0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MVST has been the topic of several research analyst reports. Zacks Research downgraded shares of Microvast from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 19th. Wall Street Zen downgraded shares of Microvast from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Microvast in a research note on Friday, March 27th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Microvast Company Profile

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.