Microvast (NASDAQ:MVST) Shares Gap Down – What’s Next?

Microvast Holdings, Inc. (NASDAQ:MVST)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $2.31, but opened at $1.70. Microvast shares last traded at $1.7650, with a volume of 7,775,292 shares changing hands.

Analysts Set New Price Targets

A number of analysts recently commented on MVST shares. Wall Street Zen downgraded shares of Microvast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Microvast in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $3.00.

Microvast Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 0.92 and a quick ratio of 0.60. The firm has a market capitalization of $571.09 million, a PE ratio of -7.48 and a beta of 3.39. The firm has a fifty day moving average price of $2.52 and a 200 day moving average price of $3.41.

Microvast (NASDAQ:MVST) last issued its quarterly earnings results on Monday, March 16th. The company reported ($0.11) earnings per share for the quarter. The company had revenue of $96.40 million during the quarter. Microvast had a positive return on equity of 2.51% and a negative net margin of 6.83%. Research analysts anticipate that Microvast Holdings, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Microvast

In other news, Director Yixin Pan sold 12,596 shares of Microvast stock in a transaction that occurred 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 transaction, the director directly owned 130,739 shares of the company’s stock, valued at $360,839.64. This trade represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 44.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Microvast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MVST. Panagora Asset Management Inc. purchased a new position in Microvast during the 4th quarter worth approximately $30,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Microvast in the third quarter worth $32,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Microvast by 727.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,796 shares of the company’s stock valued at $36,000 after buying an additional 11,250 shares in the last quarter. Cibc World Markets Corp purchased a new position in shares of Microvast during the fourth quarter valued at $37,000. Finally, NewEdge Advisors LLC acquired a new position in Microvast during the third quarter valued at $38,000. Institutional investors and hedge funds own 20.72% of the company’s stock.

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.