Microvast (NASDAQ:MVST) Downgraded by Wall Street Zen to Buy

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

A number of other analysts have also recently commented on MVST. Zacks Research cut Microvast from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Microvast in a report on Monday, December 15th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $3.00.

Microvast Stock Up 1.4%

Shares of MVST stock opened at $2.94 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21. Microvast has a 12 month low of $1.09 and a 12 month high of $7.12. The stock has a market cap of $964.85 million, a P/E ratio of -5.44 and a beta of 3.39. The company has a 50 day simple moving average of $4.29 and a two-hundred day simple moving average of $3.73.

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

Institutional Trading of Microvast

Several institutional investors and hedge funds have recently added to or reduced their stakes in MVST. Amalgamated Bank purchased a new position in Microvast in the 2nd quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Microvast in the third quarter worth $32,000. Calamos Advisors LLC bought a new position in shares of Microvast during the second quarter worth $38,000. NewEdge Advisors LLC bought a new position in shares of Microvast during the third quarter worth $38,000. Finally, Tidal Investments LLC purchased a new position in Microvast during the second quarter valued at $41,000. Institutional investors own 20.72% of the company’s stock.

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.