Microvast (NASDAQ:MVST) Trading Up 0.9% – Time to Buy?

Microvast Holdings, Inc. (NASDAQ:MVST)’s share price traded up 0.9% during trading on Wednesday . The company traded as high as $1.09 and last traded at $1.08. 2,949,058 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 3,523,035 shares. The stock had previously closed at $1.07.

Analyst Upgrades and Downgrades

MVST has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microvast in a report on Wednesday, June 24th. Zacks Research downgraded shares of Microvast from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 19th. Finally, Wall Street Zen lowered shares of Microvast from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Microvast Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 0.96. The company has a market cap of $359.81 million, a price-to-earnings ratio of -3.37 and a beta of 3.48. The firm’s 50-day moving average price is $1.39 and its 200 day moving average price is $2.00.

Microvast (NASDAQ:MVST) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.09). Microvast had a negative net margin of 11.52% and a negative return on equity of 6.12%. The business had revenue of $60.61 million during the quarter, compared to analyst estimates of $99.02 million.

Insider Buying and Selling at Microvast

In other news, CTO Wenjuan Mattis sold 48,346 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $1.32, for a total value of $63,816.72. Following the transaction, the chief technology officer directly owned 932,678 shares in the company, valued at $1,231,134.96. This trade represents a 4.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Yang Wu sold 46,313 shares of Microvast stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $1.24, for a total value of $57,428.12. Following the sale, the chief executive officer directly owned 134,065,439 shares of the company’s stock, valued at approximately $166,241,144.36. This trade represents a 0.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 105,767 shares of company stock valued at $134,360 in the last quarter. Corporate insiders own 44.80% of the company’s stock.

Hedge Funds Weigh In On Microvast

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. acquired a new position in shares of Microvast during the 4th quarter worth about $30,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Microvast in the 3rd quarter valued at approximately $32,000. Steward Partners Investment Advisory LLC raised its position in shares of Microvast by 727.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,796 shares of the company’s stock valued at $36,000 after acquiring an additional 11,250 shares during the period. Cibc World Markets Corp acquired a new stake in shares of Microvast in the 4th quarter valued at approximately $37,000. Finally, NewEdge Advisors LLC bought a new position in Microvast during the 3rd quarter worth approximately $38,000. 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.