Microvast (NASDAQ:MVST) Cut to Hold at Wall Street Zen

Microvast (NASDAQ:MVST) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microvast in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $3.00.

Microvast Stock Down 3.6%

Shares of Microvast stock opened at $1.60 on Friday. The business has a fifty day simple moving average of $2.45 and a 200 day simple moving average of $3.39. The stock has a market cap of $531.25 million, a PE ratio of -6.96 and a beta of 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 has a 12 month low of $1.09 and a 12 month high of $7.12.

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

Insider Activity at Microvast

In related news, Director Yixin Pan sold 12,596 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $2.76, for a total transaction of $34,764.96. Following the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 44.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MVST. JPMorgan Chase & Co. increased its holdings in shares of Microvast by 680,832.5% in the second quarter. JPMorgan Chase & Co. now owns 3,118,671 shares of the company’s stock worth $11,321,000 after acquiring an additional 3,118,213 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Microvast by 117.3% during the second quarter. Geode Capital Management LLC now owns 4,635,584 shares of the company’s stock worth $16,830,000 after purchasing an additional 2,502,565 shares during the period. 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. First Trust Advisors LP lifted its holdings in shares of Microvast by 4,632.7% during the 4th quarter. First Trust Advisors LP now owns 2,088,304 shares of the company’s stock valued at $5,847,000 after purchasing an additional 2,044,179 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Microvast by 14.6% in the 3rd quarter. Vanguard Group Inc. now owns 12,010,655 shares of the company’s stock valued at $46,241,000 after purchasing an additional 1,533,708 shares during the period. 20.72% of the stock is owned by institutional investors and hedge funds.

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.