Wall Street Zen Upgrades Microvast (NASDAQ:MVST) to Strong-Buy

Microvast (NASDAQ:MVST) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Several other research firms have also weighed in on MVST. Weiss Ratings reiterated a “sell (d-)” rating on shares of Microvast in a report on Monday, December 29th. Zacks Research cut Microvast from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.00.

Microvast Stock Up 5.9%

NASDAQ:MVST opened at $2.53 on Friday. The stock’s fifty day simple moving average is $3.03 and its 200-day simple moving average is $3.54. The firm has a market capitalization of $830.30 million, a P/E ratio of -4.69 and a beta of 3.36. The company has a quick ratio of 0.60, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. Microvast has a 12-month low of $1.09 and a 12-month high of $7.12.

Microvast (NASDAQ:MVST) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Microvast had a negative net margin of 28.81% and a positive return on equity of 11.34%. The firm had revenue of $123.29 million during the quarter, compared to analyst estimates of $120.02 million. Equities research analysts expect that Microvast will post -0.3 earnings per share for the current year.

Insider Transactions at Microvast

In other Microvast news, Director Yixin Pan sold 12,596 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 130,739 shares of the company’s stock, valued at approximately $360,839.64. The trade was a 8.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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 MVST. Cookson Peirce & Co. Inc. bought a new stake in Microvast during the second quarter worth $938,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Microvast during the 2nd quarter worth $847,000. Geode Capital Management LLC boosted its holdings in shares of Microvast by 117.3% in the 2nd quarter. Geode Capital Management LLC now owns 4,635,584 shares of the company’s stock worth $16,830,000 after buying an additional 2,502,565 shares during the last quarter. JPMorgan Chase & Co. grew its position in Microvast by 680,832.5% during the second 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 second quarter worth about $384,000. 20.72% of the stock is owned by hedge funds and other 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.