Microvast (NASDAQ:MVST) Shares Gap Up to $2.21

Microvast Holdings, Inc. (NASDAQ:MVSTGet Rating) gapped up before the market opened on Thursday . The stock had previously closed at $2.21, but opened at $2.26. Microvast shares last traded at $2.27, with a volume of 8,618 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Oppenheimer began coverage on shares of Microvast in a research note on Thursday, August 18th. They set an “outperform” rating and a $8.00 price objective for the company.

Microvast Trading Down 1.3 %

The company has a current ratio of 2.70, a quick ratio of 2.42 and a debt-to-equity ratio of 0.07. The company’s fifty day moving average is $2.48 and its two-hundred day moving average is $4.08.

Microvast (NASDAQ:MVSTGet Rating) last posted its earnings results on Thursday, August 11th. The company reported ($0.15) earnings per share for the quarter. The business had revenue of $64.41 million for the quarter. Microvast had a negative net margin of 122.63% and a negative return on equity of 37.11%. Sell-side analysts forecast that Microvast Holdings, Inc. will post -0.68 EPS for the current year.

Hedge Funds Weigh In On Microvast

A number of institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its holdings in Microvast by 44.3% in the 2nd quarter. Legal & General Group Plc now owns 67,342 shares of the company’s stock worth $150,000 after buying an additional 20,661 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Microvast by 37.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 420,099 shares of the company’s stock worth $932,000 after buying an additional 114,306 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Microvast by 66.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 85,470 shares of the company’s stock worth $190,000 after buying an additional 34,270 shares in the last quarter. Prudential Financial Inc. acquired a new position in Microvast in the 2nd quarter worth $26,000. Finally, Caption Management LLC acquired a new position in Microvast in the 2nd quarter worth $205,000. Institutional investors and hedge funds own 23.41% of the company’s stock.

About Microvast

(Get Rating)

Microvast Holdings, Inc designs, develops, and manufactures battery systems for electric vehicles and energy storage systems. 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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