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

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

A number of other research firms have also recently commented on MVST. Weiss Ratings reissued a “sell (d-)” rating on shares of Microvast in a research report on Monday, December 15th. Zacks Research downgraded Microvast from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $3.00.

Microvast Trading Up 1.6%

Shares of NASDAQ MVST opened at $3.10 on Friday. Microvast has a 1-year low of $1.09 and a 1-year high of $7.12. The business has a fifty day moving average price of $4.21 and a 200 day moving average price of $3.72. The stock has a market capitalization of $1.02 billion, a P/E ratio of -5.74 and a beta of 3.39. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.60.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. CIBC Bancorp USA Inc. purchased a new position in shares of Microvast in the third quarter worth about $82,000. NewEdge Advisors LLC acquired a new position in Microvast in the 3rd quarter worth approximately $38,000. Voleon Capital Management LP purchased a new position in Microvast during the 3rd quarter worth approximately $199,000. Verition Fund Management LLC lifted its stake in Microvast by 6.4% during the 3rd quarter. Verition Fund Management LLC now owns 165,604 shares of the company’s stock valued at $638,000 after acquiring an additional 9,901 shares during the period. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Microvast in the 3rd quarter valued at $32,000. 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.