Microvast (NASDAQ:MVST) Stock Rating Upgraded by Zacks Research

Microvast (NASDAQ:MVST) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

MVST has been the subject of several other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microvast in a research note on Wednesday, June 24th. Wall Street Zen cut shares of Microvast from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Microvast currently has an average rating of “Reduce”.

Microvast Trading Down 0.5%

Shares of Microvast stock opened at $0.97 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.96 and a debt-to-equity ratio of 0.06. Microvast has a 12-month low of $0.94 and a 12-month high of $7.12. The company has a market capitalization of $323.27 million, a price-to-earnings ratio of -3.03 and a beta of 3.48. The firm’s 50-day moving average price is $1.32 and its two-hundred day moving average price is $1.94.

Microvast (NASDAQ:MVST) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). The business had revenue of $60.61 million during the quarter, compared to the consensus estimate of $99.02 million. Microvast had a negative net margin of 11.52% and a negative return on equity of 6.12%.

Insider Transactions at Microvast

In related news, CEO Yang Wu sold 46,313 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $1.24, for a total value of $57,428.12. Following the transaction, the chief executive officer directly owned 134,065,439 shares in the company, valued at $166,241,144.36. This trade represents a 0.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Wenjuan Mattis sold 48,346 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $1.32, for a total transaction of $63,816.72. Following the completion of the transaction, the chief technology officer directly owned 932,678 shares in the company, valued at $1,231,134.96. This trade represents a 4.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 105,767 shares of company stock worth $134,360 in the last three months. Insiders own 44.80% of the company’s stock.

Hedge Funds Weigh In On Microvast

Several institutional investors have recently modified their holdings of MVST. Vanguard Group Inc. increased its position in Microvast by 14.6% in the third quarter. Vanguard Group Inc. now owns 12,010,655 shares of the company’s stock worth $46,241,000 after buying an additional 1,533,708 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Microvast by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 4,842,635 shares of the company’s stock valued at $13,561,000 after buying an additional 212,228 shares during the last quarter. Millennium Management LLC lifted its position in shares of Microvast by 101.6% during the 1st quarter. Millennium Management LLC now owns 4,646,060 shares of the company’s stock valued at $5,436,000 after buying an additional 2,341,637 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Microvast by 31.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,859,317 shares of the company’s stock worth $10,806,000 after acquiring an additional 927,013 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Microvast by 125.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,363,006 shares of the company’s stock worth $3,542,000 after acquiring an additional 1,314,060 shares during the period. 20.72% of the stock is owned by institutional investors.

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.