Microvast (NASDAQ:MVST) Reaches New 1-Year High – What’s Next?

Microvast Holdings, Inc. (NASDAQ:MVST) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $3.47 and last traded at $3.11, with a volume of 53522298 shares trading hands. The stock had previously closed at $2.39.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of Microvast in a research note on Tuesday, April 8th.

Microvast Stock Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 1.30. The company has a 50 day moving average price of $1.80 and a 200 day moving average price of $1.58. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -8.68 and a beta of 2.72.

Microvast (NASDAQ:MVST) last issued its earnings results on Monday, May 12th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.10. The company had revenue of $116.49 million during the quarter, compared to the consensus estimate of $104.00 million. Microvast had a negative return on equity of 22.10% and a negative net margin of 30.88%. Equities research analysts predict that Microvast Holdings, Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Trading of Microvast

Several institutional investors and hedge funds have recently modified their holdings of the stock. OMERS ADMINISTRATION Corp purchased a new stake in Microvast in the 1st quarter valued at $184,000. Rathbones Group PLC purchased a new stake in shares of Microvast in the first quarter valued at about $53,000. Virtu Financial LLC bought a new position in shares of Microvast during the first quarter valued at about $120,000. Deutsche Bank AG purchased a new position in Microvast during the first quarter worth about $58,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in Microvast in the 1st quarter worth about $44,000. 20.72% of the stock is owned by hedge funds and other institutional investors.

About Microvast

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.