Microvast (NASDAQ:MVST) Shares Gap Up – Still a Buy?

Microvast Holdings, Inc. (NASDAQ:MVST)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $1.17, but opened at $1.38. Microvast shares last traded at $1.56, with a volume of 32,590,394 shares traded.

Microvast Stock Performance

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 $498.47 million, a price-to-earnings ratio of -4.04 and a beta of 2.20. The firm has a 50 day simple moving average of $1.65 and a 200-day simple moving average of $1.17.

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. Microvast had a negative net margin of 30.88% and a negative return on equity of 22.10%. The firm had revenue of $113.39 million for the quarter, compared to analyst estimates of $92.50 million. During the same period in the prior year, the business posted ($0.04) EPS. As a group, analysts predict that Microvast Holdings, Inc. will post -0.3 EPS for the current fiscal year.

Institutional Trading of Microvast

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets purchased a new stake in Microvast during the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. purchased a new stake in Microvast during the 4th quarter worth about $32,000. IMG Wealth Management Inc. purchased a new stake in Microvast during the fourth quarter worth approximately $38,000. Prudential Financial Inc. acquired a new stake in Microvast during the fourth quarter worth approximately $55,000. Finally, XTX Topco Ltd lifted its position in shares of Microvast by 38.4% during the 4th quarter. XTX Topco Ltd now owns 119,066 shares of the company’s stock worth $246,000 after buying an additional 33,016 shares during the last quarter. Institutional investors and hedge funds 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.