Microvast (NASDAQ:MVST) Trading 4.8% Higher – Still a Buy?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) shot up 4.8% during mid-day trading on Thursday . The company traded as high as $1.84 and last traded at $1.86. 3,865,928 shares were traded during mid-day trading, a decline of 66% from the average session volume of 11,405,977 shares. The stock had previously closed at $1.77.

Microvast Stock Up 4.2 %

The company has a 50 day moving average of $1.64 and a 200-day moving average of $1.18. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.30 and a quick ratio of 0.83. The company has a market cap of $597.58 million, a P/E ratio of -4.86 and a beta of 2.20.

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

Hedge Funds Weigh In On Microvast

Institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC bought a new position in Microvast in the fourth quarter valued at $737,000. LPL Financial LLC boosted its holdings in shares of Microvast by 559.0% in the 4th quarter. LPL Financial LLC now owns 272,455 shares of the company’s stock worth $564,000 after purchasing an additional 231,109 shares in the last quarter. Charles Schwab Investment Management Inc. bought a new position in shares of Microvast during the 4th quarter valued at about $229,000. Bank of America Corp DE raised its holdings in shares of Microvast by 193.9% during the 4th quarter. Bank of America Corp DE now owns 112,754 shares of the company’s stock valued at $233,000 after buying an additional 74,393 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in Microvast in the fourth quarter worth approximately $135,000. 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.