Microvast (NASDAQ:MVST) Shares Gap Down – Here’s What Happened

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.

Microvast Price Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 1.30. The stock’s 50-day moving average is $1.64 and its two-hundred day moving average is $1.18. The stock has a market cap of $542.52 million, a PE ratio of -4.43 and a beta of 2.20.

Microvast (NASDAQ:MVST) last released its quarterly earnings results on Monday, April 7th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. The business had revenue of $113.39 million during the quarter, compared to analyst estimates 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 business posted ($0.04) earnings per share. On average, equities analysts predict that Microvast Holdings, Inc. will post -0.3 earnings per share for the current year.

Institutional Trading of Microvast

Several hedge funds have recently made changes to their positions in MVST. Squarepoint Ops LLC purchased a new position in Microvast in the fourth quarter valued at $737,000. LPL Financial LLC boosted its holdings in shares of Microvast by 559.0% in the 4th quarter. LPL Financial LLC now owns 272,455 shares of the company’s stock valued at $564,000 after buying an additional 231,109 shares in the last quarter. XTX Topco Ltd grew its position in shares of 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 buying an additional 33,016 shares during the last quarter. Bank of America Corp DE raised its stake in Microvast by 193.9% during the 4th quarter. Bank of America Corp DE now owns 112,754 shares of the company’s stock worth $233,000 after acquiring an additional 74,393 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Microvast during the fourth quarter worth about $229,000. 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.