Wedbush Securities Inc. Invests $145,000 in Microvast Holdings, Inc. $MVST

Wedbush Securities Inc. bought a new stake in Microvast Holdings, Inc. (NASDAQ:MVST) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 39,943 shares of the company’s stock, valued at approximately $145,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Millennium Management LLC increased its holdings in shares of Microvast by 101.6% in the 1st quarter. Millennium Management LLC now owns 4,646,060 shares of the company’s stock valued at $5,436,000 after purchasing an additional 2,341,637 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Microvast by 158.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,606,896 shares of the company’s stock valued at $1,880,000 after buying an additional 986,335 shares during the last quarter. Cookson Peirce & Co. Inc. acquired a new position in Microvast in the second quarter worth approximately $938,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Microvast during the 1st quarter valued at $213,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in Microvast during the first quarter worth $184,000. Hedge funds and other institutional investors own 20.72% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on MVST shares. Wall Street Zen raised shares of Microvast from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Zacks Research cut shares of Microvast from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Microvast in a report on Friday, October 31st. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.00.

Microvast Stock Down 3.5%

Microvast stock opened at $3.89 on Friday. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -7.20 and a beta of 3.27. The company’s 50 day simple moving average is $4.49 and its 200 day simple moving average is $3.65. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.56. Microvast Holdings, Inc. has a fifty-two week low of $0.47 and a fifty-two week 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). The company had revenue of $123.29 million during the quarter, compared to the consensus estimate of $120.02 million. Microvast had a negative net margin of 28.81% and a positive return on equity of 11.34%. Microvast has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Microvast Holdings, Inc. will post -0.3 EPS for the current year.

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.