Microvast (NASDAQ:MVST) Sets New 12-Month Low at $4.91

Microvast Holdings Inc (NASDAQ:MVST)’s stock price hit a new 52-week low on Friday . The stock traded as low as $4.91 and last traded at $4.94, with a volume of 17917 shares changing hands. The stock had previously closed at $5.07.

Several brokerages recently weighed in on MVST. Zacks Investment Research upgraded shares of Microvast from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a research report on Wednesday, January 5th. Piper Sandler began coverage on shares of Microvast in a research report on Friday, December 17th. They issued a “neutral” rating and a $8.00 price objective on the stock.

The company’s 50-day moving average is $7.35 and its two-hundred day moving average is $8.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.89 and a quick ratio of 4.58.

Microvast (NASDAQ:MVST) last released its quarterly earnings results on Monday, November 15th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.45). The business had revenue of $36.89 million for the quarter. On average, equities analysts predict that Microvast Holdings Inc will post -0.75 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Microvast during the 3rd quarter worth about $26,434,000. Geode Capital Management LLC bought a new stake in shares of Microvast during the 3rd quarter worth about $15,679,000. Linden Advisors LP bought a new stake in shares of Microvast during the 3rd quarter worth about $12,330,000. Crescent Park Management L.P. bought a new stake in shares of Microvast during the 3rd quarter worth about $12,330,000. Finally, Magnetar Financial LLC bought a new stake in shares of Microvast during the 3rd quarter worth about $11,714,000. Institutional investors own 22.99% of the company’s stock.

About Microvast (NASDAQ:MVST)

Tuscan Holdings Corp. have entered into a definitive merger agreement with Microvast Inc

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