IMG Wealth Management Inc. Cuts Stake in Microvast Holdings, Inc. $MVST

IMG Wealth Management Inc. reduced its stake in shares of Microvast Holdings, Inc. (NASDAQ:MVST) by 43.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,205 shares of the company’s stock after selling 7,875 shares during the period. IMG Wealth Management Inc.’s holdings in Microvast were worth $37,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Baader Bank Aktiengesellschaft acquired a new stake in Microvast during the 1st quarter worth approximately $44,000. Rathbones Group PLC acquired a new stake in Microvast during the 1st quarter worth approximately $53,000. Deutsche Bank AG acquired a new stake in Microvast during the 1st quarter worth approximately $58,000. SBI Securities Co. Ltd. increased its position in Microvast by 351.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 69,989 shares of the company’s stock worth $82,000 after purchasing an additional 54,496 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Microvast during the 1st quarter worth approximately $120,000. 20.72% of the stock is currently owned by hedge funds and other institutional investors.

Microvast Stock Up 3.8%

Shares of NASDAQ:MVST opened at $6.05 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 0.83 and a debt-to-equity ratio of 0.21. Microvast Holdings, Inc. has a 52-week low of $0.15 and a 52-week high of $7.12. The company has a 50 day moving average of $3.62 and a two-hundred day moving average of $3.25. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of -11.86 and a beta of 3.22.

Microvast (NASDAQ:MVST) last issued its quarterly earnings data on Monday, August 11th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. Microvast had a negative net margin of 26.82% and a positive return on equity of 10.32%. The company had revenue of $91.34 million during the quarter, compared to the consensus estimate of $106.79 million. Microvast has set its FY 2025 guidance at EPS. As a group, analysts forecast that Microvast Holdings, Inc. will post -0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on MVST. Weiss Ratings reissued a “sell (d-)” rating on shares of Microvast in a research report on Wednesday, October 8th. Zacks Research downgraded shares of Microvast from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Finally, Wall Street Zen downgraded shares of Microvast from a “buy” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $3.00.

Microvast 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.