Microvast (NASDAQ:MVST) Cut to “Buy” at Wall Street Zen

Microvast (NASDAQ:MVST) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

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

Microvast Price Performance

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

Insider Activity

In other news, Director Yixin Pan sold 12,596 shares of the company’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 transaction, the director directly owned 130,739 shares of the company’s stock, valued at $360,839.64. This represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 44.80% of the company’s stock.

Institutional Investors Weigh In On Microvast

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cookson Peirce & Co. Inc. bought a new stake in Microvast during the second quarter worth approximately $938,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Microvast in the 2nd quarter worth approximately $847,000. Geode Capital Management LLC increased its position in shares of Microvast by 117.3% during the 2nd quarter. Geode Capital Management LLC now owns 4,635,584 shares of the company’s stock valued at $16,830,000 after purchasing an additional 2,502,565 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Microvast by 680,832.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,118,671 shares of the company’s stock valued at $11,321,000 after buying an additional 3,118,213 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in Microvast during the 2nd quarter valued at $384,000. 20.72% of the stock is owned by institutional investors.

Microvast Company Profile

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.