Microvast (NASDAQ:MVST) Lowered to Buy Rating by Wall Street Zen

Microvast (NASDAQ:MVST) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Sunday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Microvast in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Microvast has an average rating of “Hold” and a consensus target price of $3.00.

Microvast Stock Performance

Microvast stock opened at $2.36 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.60 and a current ratio of 0.84. The company has a market capitalization of $774.50 million, a PE ratio of -4.37 and a beta of 3.36. The company has a 50 day moving average price of $2.92 and a 200-day moving average price of $3.50. Microvast has a fifty-two week low of $1.09 and a fifty-two week high of $7.12.

Insider Buying and Selling

In other 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 value of $34,764.96. Following the transaction, the director directly owned 130,739 shares of the company’s stock, valued at approximately $360,839.64. This trade represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 44.80% of the company’s stock.

Institutional Trading of Microvast

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in shares of Microvast by 13.3% in the 3rd quarter. SG Americas Securities LLC now owns 34,563 shares of the company’s stock worth $133,000 after acquiring an additional 4,060 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Microvast by 73.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 14,644 shares of the company’s stock valued at $41,000 after purchasing an additional 6,219 shares during the period. Amalgamated Bank acquired a new position in Microvast during the second quarter worth $25,000. SBI Securities Co. Ltd. lifted its stake in Microvast by 11.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 77,976 shares of the company’s stock worth $283,000 after acquiring an additional 7,987 shares in the last quarter. Finally, NewEdge Advisors LLC purchased a new position in Microvast during the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 20.72% of the company’s stock.

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.