Microvast (NASDAQ:MVST) Shares Gap Down – Here’s Why

Microvast Holdings, Inc. (NASDAQ:MVST)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $1.55, but opened at $1.46. Microvast shares last traded at $1.65, with a volume of 2,975,879 shares traded.

Microvast Stock Up 2.8 %

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 business’s 50 day moving average price is $1.63 and its 200 day moving average price is $1.19. The firm has a market cap of $589.49 million, a price-to-earnings ratio of -4.79 and a beta of 2.20.

Microvast (NASDAQ:MVST) last issued its quarterly earnings data on Monday, April 7th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Microvast had a negative net margin of 30.88% and a negative return on equity of 22.10%. The business had revenue of $113.39 million during the quarter, compared to the consensus estimate of $92.50 million. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. On average, equities analysts forecast that Microvast Holdings, Inc. will post -0.3 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MVST. BNP Paribas Financial Markets purchased a new position in Microvast during the fourth quarter valued at $25,000. SBI Securities Co. Ltd. acquired a new stake in Microvast in the 4th quarter worth about $32,000. IMG Wealth Management Inc. acquired a new position in shares of Microvast during the fourth quarter valued at approximately $38,000. Prudential Financial Inc. purchased a new position in shares of Microvast in the fourth quarter valued at approximately $55,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Microvast in the fourth quarter worth approximately $73,000. Hedge funds and other institutional investors own 20.72% of the company’s stock.

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.