Microvast (NASDAQ:MVST) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of Microvast (NASDAQ:MVST) from a hold rating to a strong sell rating in a research note published on Thursday,Zacks.com reports.

MVST has been the topic of a number of other reports. Wall Street Zen downgraded shares of Microvast from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Microvast in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $3.00.

Microvast Stock Performance

MVST stock opened at $1.60 on Thursday. Microvast has a twelve month low of $1.09 and a twelve month high of $7.12. The firm has a market cap of $531.25 million, a price-to-earnings ratio of -6.96 and a beta of 3.39. The business’s fifty day simple moving average is $2.45 and its two-hundred day simple moving average is $3.39. The company has a quick ratio of 0.60, a current ratio of 0.92 and a debt-to-equity ratio of 0.13.

Microvast (NASDAQ:MVST) last posted its quarterly earnings results on Monday, March 16th. The company reported ($0.11) EPS 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%. Analysts predict that Microvast will post -0.3 earnings per share for the current year.

Insider Transactions at Microvast

In other Microvast news, Director Yixin Pan sold 12,596 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $2.76, for a total transaction of $34,764.96. Following the transaction, the director owned 130,739 shares of the company’s stock, valued at approximately $360,839.64. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 44.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Microvast

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Microvast by 14.6% in the third quarter. Vanguard Group Inc. now owns 12,010,655 shares of the company’s stock worth $46,241,000 after buying an additional 1,533,708 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Microvast by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 4,842,635 shares of the company’s stock worth $13,561,000 after acquiring an additional 212,228 shares in the last quarter. Millennium Management LLC raised its position in shares of Microvast by 101.6% in the 1st quarter. Millennium Management LLC now owns 4,646,060 shares of the company’s stock worth $5,436,000 after acquiring an additional 2,341,637 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of 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 purchasing an additional 927,013 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Microvast by 680,832.5% during 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. 20.72% of the stock is owned by hedge funds and other 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.