Microvast (NASDAQ:MVST) Issues Earnings Results, Misses Estimates By $0.01 EPS
Microvast (NASDAQ:MVST) reported earnings of $0.04 per share for the quarter, missing estimates by $0.01. Revenue was $123.29 million, exceeding expectations of $120.02 million. The company has a negative net margin of 26.82% and a positive return on equity of 10.32%. Shares traded up to $4.98, with a market cap of $1.62 billion. Analysts have mixed ratings, with one buy, one hold, and one sell. The average rating is 'Hold' with a price target of $3.00.
Microvast (NASDAQ:MVST - Get Free Report) announced its quarterly earnings results on Monday. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.01), Zacks reports. The firm had revenue of $123.29 million during the quarter, compared to the consensus estimate of $120.02 million. Microvast had a negative net margin of 26.82% and a positive return on equity of 10.32%. Microvast updated its FY 2025 guidance to EPS.
Microvast Price Performance
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Shares of Microvast stock traded up $0.05 on Monday, hitting $4.98. 7,350,799 shares of the company traded hands, compared to its average volume of 8,392,244. The firm's 50-day simple moving average is $4.35 and its 200 day simple moving average is $3.61. Microvast has a 12-month low of $0.17 and a 12-month high of $7.12. The company has a current ratio of 0.83, a quick ratio of 0.56 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.62 billion, a P/E ratio of -9.76 and a beta of 3.27.
Hedge Funds Weigh In On Microvast
Large investors have recently bought and sold shares of the stock. Millennium Management LLC grew its position in shares of Microvast by 101.6% in the 1st quarter. Millennium Management LLC now owns 4,646,060 shares of the company's stock worth $5,436,000 after buying an additional 2,341,637 shares during the last quarter. Vanguard Group Inc. raised its stake in Microvast by 14.6% during the third quarter. Vanguard Group Inc. now owns 12,010,655 shares of the company's stock valued at $46,241,000 after buying an additional 1,533,708 shares during the last quarter. Bank of America Corp DE grew its position in Microvast by 349.0% during the 2nd quarter. Bank of America Corp DE now owns 1,636,970 shares of the company's stock valued at $5,942,000 after purchasing an additional 1,272,420 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Microvast by 158.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,606,896 shares of the company's stock valued at $1,880,000 after acquiring an additional 986,335 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Microvast by 467.3% in the second quarter. BNP Paribas Financial Markets now owns 358,476 shares of the company's stock worth $1,301,000 after purchasing an additional 295,285 shares during the last quarter. 20.72% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
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A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Microvast in a research note on Friday, October 31st. Wall Street Zen raised Microvast from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Zacks Research downgraded Microvast from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 13th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $3.00.
Get Our Latest Research Report on MVST
Microvast Company Profile
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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.
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