Microvast (MVST) Set to Announce Quarterly Earnings on Thursday

Microvast (NASDAQ:MVST) is set to announce its earnings results after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.05) per share for the quarter. Microvast has set its Q1 2024 guidance at EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

Microvast (NASDAQ:MVST) last released its quarterly earnings data on Monday, April 1st. The company reported ($0.08) EPS for the quarter. Microvast had a negative net margin of 34.68% and a negative return on equity of 18.37%. The company had revenue of $104.58 million during the quarter, compared to the consensus estimate of $94.24 million. On average, analysts expect Microvast to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Microvast Stock Down 2.1 %

Shares of Microvast stock opened at $0.42 on Wednesday. Microvast has a 1 year low of $0.32 and a 1 year high of $2.91. The business has a 50-day moving average of $0.61 and a two-hundred day moving average of $0.95. The company has a market capitalization of $134.18 million, a P/E ratio of -1.24 and a beta of 1.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.05 and a quick ratio of 0.68.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. HC Wainwright lowered their price target on Microvast from $8.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Janney Montgomery Scott restated a “neutral” rating and issued a $3.00 price target (down from $11.00) on shares of Microvast in a report on Tuesday, April 2nd. Finally, Oppenheimer lowered their price target on Microvast from $8.00 to $4.00 and set an “outperform” rating for the company in a report on Tuesday, April 2nd.

Microvast Company Profile

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.