The price of Microvast Holdings Inc (NASDAQ:MVST) shares last traded on Wall Street rose 16.54% to $0.63.
MVST stock price is now -28.56% away from the 50-day moving average and -57.87% away from the 200-day moving average. The market capitalization of the company currently stands at $200.02M.
With the price target of $8, Cantor Fitzgerald recently initiated with Overweight rating for Microvast Holdings Inc (NASDAQ: MVST). On August 31, 2023, Janney recently initiated its ‘Buy’ rating on the stock quoting a target price of $8, while ‘H.C. Wainwright’ rates the stock as ‘Buy’
In other news, Zheng Yanzhuan, Director sold 1,000,000 shares of the company’s stock on Nov 14 ’23. The stock was sold for $1,300,000 at an average price of $1.30. Upon completion of the transaction, the Director now directly owns 710,000 shares in the company, valued at $0.45 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 15 ’23, Director Zheng Yanzhuan sold 313,009 shares of the business’s stock. A total of $632,278 was realized by selling the stock at an average price of $2.02. This leaves the insider owning 1,710,000 shares of the company worth $1.08 million. A total of 32.87% of the company’s stock is owned by insiders.
During the past 12 months, Microvast Holdings Inc has had a low of $0.54 and a high of $2.91. As of last week, the company has a debt-to-equity ratio of 0.28, a current ratio of 1.20, and a quick ratio of 0.82. The fifty day moving average price for MVST is $0.8846 and a two-hundred day moving average price translates $1.4997 for the stock.
The latest earnings results from Microvast Holdings Inc (NASDAQ: MVST) was released for Sep, 2023. According to the Electrical Equipment & Parts Company, earnings per share came in at -$0.08, missing analysts’ expectations of -$0.06 by -0.02. This compares to -$0.12 EPS in the same period last year. The net profit margin was -43.28% and return on equity was -19.56% for MVST. The company reported revenue of $80.12 million for the quarter, compared to $38.62 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 107.47 percent. For the current quarter, analysts expect MVST to generate $94.43M in revenue.
Microvast Holdings Inc(MVST) Company Profile
Microvast Holdings, Inc. provides battery technologies for electric vehicles and energy storage solutions. It delivers cutting-edge battery systems that empower a sustainable future. 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. It operates China, rest of the Asia Pacific, Europe, and the United States. Microvast Holdings, Inc. was founded in 2006 and is headquartered in Stafford, Texas.
