Microvast (NASDAQ:MVST) Stock Rating Upgraded by Wall Street Zen

by · The Markets Daily

Microvast (NASDAQ:MVST – Get Free Report) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

MVST has been the topic of a number of other research reports. Zacks Research lowered Microvast from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microvast in a research report on Monday, December 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.00.

Get Our Latest Analysis on Microvast

Microvast Stock Performance

Shares of Microvast stock opened at $3.01 on Friday. The firm’s fifty day simple moving average is $4.46 and its 200-day simple moving average is $3.75. Microvast has a 12 month low of $1.08 and a 12 month high of $7.12. The stock has a market capitalization of $987.82 million, a price-to-earnings ratio of -5.57 and a beta of 3.40. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.60.

Microvast (NASDAQ:MVST – Get Free Report) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The business had revenue of $123.29 million for the quarter, compared to analyst estimates of $120.02 million. Microvast had a positive return on equity of 11.34% and a negative net margin of 28.81%. As a group, equities analysts forecast that Microvast will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On Microvast

A number of large investors have recently modified their holdings of the business. CIBC Bancorp USA Inc. acquired a new stake in shares of Microvast in the 3rd quarter valued at approximately $82,000. NewEdge Advisors LLC acquired a new position in Microvast during the third quarter worth $38,000. Voleon Capital Management LP purchased a new position in Microvast in the third quarter worth $199,000. Verition Fund Management LLC lifted its holdings in Microvast by 6.4% in the third quarter. Verition Fund Management LLC now owns 165,604 shares of the company’s stock valued at $638,000 after acquiring an additional 9,901 shares during the period. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Microvast during the 3rd quarter worth $32,000. 20.72% of the stock is owned by hedge funds and other institutional investors.

About Microvast

(Get Free Report)

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.

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