Stocks of Microvast Holdings Inc (NASDAQ:MVST) traded higher last session on Wall Street, down -1.32% to $0.45.
MVST stock price is now -35.12% away from the 50-day moving average and -67.37% away from the 200-day moving average. The market capitalization of the company currently stands at $142.68M.
On November 29, 2023, Cantor Fitzgerald recently initiated its ‘Overweight’ rating on the stock quoting a target price of $8, while ‘Janney’ 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 $0.32 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 $0.77 million. A total of 46.40% of the company’s stock is owned by insiders.
During the past 12 months, Microvast Holdings Inc has had a low of $0.45 and a high of $2.91. As of last week, the company has a debt-to-equity ratio of 0.36, a current ratio of 1.06, and a quick ratio of 0.67.
According to the Electrical Equipment & Parts Company, earnings per share came in at -0.1, inline with analysts’ expectations of -0.1. This compares to -$0.11 EPS in the same period last year. The net profit margin was -34.68% and return on equity was -18.07% for MVST. The company reported revenue of $104.58 million for the quarter, compared to $64.8 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 61.39 percent. For the current quarter, analysts expect MVST to generate $67.58M in revenue.
