Microvast (NASDAQ:MVST) Shares Gap Down – Time to Sell?

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) gapped down prior to trading on Wednesday . The stock had previously closed at $1.55, but opened at $1.46. Microvast shares last traded at $1.65, with a volume of 2,975,879 shares trading hands.

Microvast Trading Up 8.1 %

The company has a market capitalization of $542.52 million, a price-to-earnings ratio of -4.43 and a beta of 2.20. The business’s 50 day simple moving average is $1.64 and its 200 day simple moving average is $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.

Microvast (NASDAQ:MVST) last posted its quarterly earnings data on Monday, April 7th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $113.39 million during the quarter, compared to analysts’ expectations 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 period last year, the firm earned ($0.04) EPS. Research analysts anticipate that Microvast Holdings, Inc. will post -0.3 EPS for the current year.

Institutional Investors Weigh In On Microvast

A number of hedge funds and other institutional investors have recently bought and sold shares of MVST. Squarepoint Ops LLC purchased a new stake in Microvast in the 4th quarter valued at approximately $737,000. Bank of America Corp DE lifted its position in shares of Microvast by 193.9% in the fourth quarter. Bank of America Corp DE now owns 112,754 shares of the company’s stock valued at $233,000 after acquiring an additional 74,393 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Microvast during the fourth quarter valued at $25,000. Schonfeld Strategic Advisors LLC purchased a new stake in Microvast during the 4th quarter worth about $73,000. Finally, XTX Topco Ltd raised its stake in Microvast by 38.4% in the 4th quarter. XTX Topco Ltd now owns 119,066 shares of the company’s stock valued at $246,000 after purchasing an additional 33,016 shares during the last quarter. Institutional investors and hedge funds own 20.72% of the company’s stock.

Microvast Company Profile

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.