Microvast (NASDAQ:MVST) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen cut shares of Microvast (NASDAQ:MVST) from a strong-buy rating to a buy rating in a research report released on Sunday morning.

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

Microvast Price Performance

Shares of MVST opened at $2.36 on Friday. The business’s 50-day moving average is $2.92 and its two-hundred day moving average is $3.51. The company has a market capitalization of $774.50 million, a P/E ratio of -4.37 and a beta of 3.36. Microvast has a fifty-two week low of $1.09 and a fifty-two week high of $7.12. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.60 and a current ratio of 0.84.

Insider Activity

In related news, Director Yixin Pan sold 12,596 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $2.76, for a total value of $34,764.96. Following the transaction, the director directly 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 the SEC website. 44.80% of the stock is currently owned by company insiders.

Institutional Trading of Microvast

A number of institutional investors have recently made changes to their positions in the company. Amalgamated Bank acquired a new stake in shares of Microvast in the second quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Microvast during the 3rd quarter valued at about $32,000. Steward Partners Investment Advisory LLC raised its holdings in 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 last quarter. Cibc World Markets Corp purchased a new position in Microvast in the 4th quarter worth approximately $37,000. Finally, Calamos Advisors LLC acquired a new position in shares of Microvast during the 2nd quarter worth approximately $38,000. 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.