Microvast (NASDAQ:MVST) Shares Gap Up - Time to Buy?

Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $2.70, but opened at $2.91. Microvast shares last traded at $2.70, with a volume of 4,632,855 shares changing hands.Wall Street Analyst Weigh In3 Penny Stocks Analysts Believe Are Headed HigherSeparately, Wall Street Zen raised Microvast from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.Check Out Our Latest Research Report on MVSTMicrovast Price PerformanceMarketBeat Week in Review – 8/19 - 8/23The stock has a market capitalization of $915.83 million, a price-to-earnings ratio of -6.57 and a beta of 3.02. The stock has a 50 day moving average price of $3.54 and a 200-day moving average price of $2.54. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.94. Microvast (NASDAQ:MVST - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.10. The business had revenue of $116.49 million during the quarter, compared to analysts' expectations of $104.00 million. Microvast had a negative return on equity of 10.97% and a negative net margin of 20.66%. On average, analysts forecast that Microvast Holdings, Inc. will post -0.3 earnings per share for the current year. Institutional Investors Weigh In On MicrovastMicrovast vs. FREYR: Which Battery Stock Holds the Power?A number of large investors have recently modified their holdings of MVST. Calamos Advisors LLC acquired a new position in shares of Microvast during the second quarter worth approximately $38,000. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Microvast in the second quarter worth about $166,000. Geode Capital Management LLC lifted its position in Microvast by 117.3% in the second quarter. Geode Capital Management LLC now owns 4,635,584 shares of the company's stock worth $16,830,000 after purchasing an additional 2,502,565 shares during the period. SBI Securities Co. Ltd. increased its position in shares of Microvast by 11.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 77,976 shares of the company's stock worth $283,000 after purchasing an additional 7,987 shares in the last quarter. Finally, ProShare Advisors LLC bought a new position in Microvast in the 2nd quarter worth approximately $148,000. Institutional investors and hedge funds own 20.72% of the company's stock. Microvast Company Profile (Get Free Report)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.Recommended StoriesFive stocks we like better than MicrovastWhere to Find Earnings Call TranscriptsIs Eli Lilly’s 14% Post-Earnings Slide a Buy-the-Dip Opportunity?TSX Venture Exchange (Formerly Canadian Venture Exchange)Tesla Is Balanced on a Knife Edge: Time to Tread CarefullyHow the NYSE and NASDAQ are Different, Why That Matters to InvestorsWhy Axon's 16% Surge Signals a New Era in Public Safety TechThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Microvast Right Now?Before you consider Microvast, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Microvast wasn't on the list.While Microvast currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here