Microvast (NASDAQ:MVST) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Microvast (NASDAQ:MVST) from a hold rating to a strong sell rating in a research note released on Thursday morning,Zacks.com reports.

MVST has been the subject of a number of other reports. Wall Street Zen lowered shares of Microvast from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued 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 and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $3.00.

Microvast Stock Performance

MVST opened at $1.60 on Thursday. The company has a 50 day simple moving average of $2.45 and a two-hundred day simple moving average of $3.39. The firm has a market cap of $531.25 million, a P/E ratio of -6.96 and a beta of 3.39. Microvast has a 1-year low of $1.09 and a 1-year high of $7.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.92 and a quick ratio of 0.60.

Microvast (NASDAQ:MVST) last issued its earnings results on Monday, March 16th. The company reported ($0.11) earnings per share for the quarter. Microvast had a positive return on equity of 2.51% and a negative net margin of 6.83%.The firm had revenue of $96.40 million during the quarter. Equities analysts forecast that Microvast will post -0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Yixin Pan sold 12,596 shares of the company’s stock in a transaction dated 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. 44.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Microvast

Large investors have recently modified their holdings of the business. Quantbot Technologies LP purchased a new position in shares of Microvast in the 3rd quarter valued at approximately $1,745,000. Geode Capital Management LLC increased its stake in 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 in the last quarter. JPMorgan Chase & Co. increased its stake 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 purchasing an additional 3,118,213 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Microvast in the second quarter worth $384,000. Finally, ProShare Advisors LLC purchased a new position in shares of Microvast in the second quarter worth $148,000. Hedge funds and other institutional investors own 20.72% of the company’s stock.

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.