In yesterday’s Wall Street session, Microvast Holdings Inc. (NASDAQ:MVST) shares traded at $2.13, up 0.47% from the previous session.
As of this writing, 2 analysts cover Microvast Holdings Inc. (NASDAQ:MVST). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $8.00 and a low of $8.00, we find $8.00. Given the previous closing price of $2.12, this indicates a potential upside of 277.36 percent. MVST stock price is now 68.25% away from the 50-day moving average and 16.70% away from the 200-day moving average. The market capitalization of the company currently stands at $738.45M.
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There are 0 analysts who have given it a hold rating, whereas 2 have given it a buy rating. Brokers who have rated the stock have averaged $8.00 as their price target over the next twelve months.
With the price target of $8, H.C. Wainwright recently initiated with Buy rating for Microvast Holdings Inc. (NASDAQ: MVST). On August 19, 2022, Oppenheimer recently initiated its ‘Outperform’ rating on the stock quoting a target price of $8, while ‘Piper Sandler’ rates the stock as ‘Neutral’.
In other news, Smith Shane, Chief Operating Officer bought 250,000 shares of the company’s stock on Jun 14. The stock was bought for $625,000 at an average price of $2.50. Upon completion of the transaction, the Chief Operating Officer now directly owns 250,000 shares in the company, valued at $0.53 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 13, Chief Financial Officer Webster Craig bought 287,000 shares of the business’s stock. A total of $737,590 was incurred on buying the stock at an average price of $2.57. This leaves the insider owning 315,077 shares of the company worth $0.67 million. Insiders disposed of 330,000 shares of company stock worth roughly $0.7 million over the past 1 year. A total of 1.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MVST stock. A new stake in Microvast Holdings Inc. shares was purchased by HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND during the first quarter worth $504,000. D. E. SHAW & CO., INC. invested $368,000 in shares of MVST during the first quarter. In the first quarter, ERGOTELES LLC acquired a new stake in Microvast Holdings Inc. valued at approximately $258,000. CUBIST SYSTEMATIC STRATEGIES, LLC acquired a new stake in MVST for approximately $195,000. POINT72 ASSET MANAGEMENT, L.P. purchased a new stake in MVST valued at around $146,000 in the second quarter. In total, there are 150 active investors with 38.70% ownership of the company’s stock.
Thursday morning saw Microvast Holdings Inc. (NASDAQ: MVST) opened at $2.1400. During the past 12 months, Microvast Holdings Inc. has had a low of $0.88 and a high of $5.76. The fifty day moving average price for MVST is $1.2823 and a two-hundred day moving average price translates $1.8211 for the stock.
The latest earnings results from Microvast Holdings Inc. (NASDAQ: MVST) was released for Mar, 2023. According to the Electrical Equipment & Parts Company, earnings per share came in at -$0.04, beating analysts’ expectations of -$0.1 by 0.06. This compares to -$0.15 EPS in the same period last year. The company reported revenue of $46.97 million for the quarter, compared to $36.67 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 28.1 percent. For the current quarter, analysts expect MVST to generate $64.35M in revenue.
Microvast Holdings Inc.(MVST) Company Profile
Microvast Holdings, Inc. designs, develops, and manufactures battery systems for electric vehicles and energy storage systems in the United States, China, rest of the Asia Pacific, and Europe. 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. In addition, the company offers battery solutions for commercial vehicles and energy storage systems. Its commercial vehicle markets cover buses, trains, mining trucks, marine and port applications, and automated guided and specialty vehicles, as well as light, medium, heavy-duty trucks. Microvast Holdings, Inc. was incorporated in 2006 and is headquartered in Stafford, Texas.
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