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

Shares of Microvast Holdings, Inc. (NASDAQ:MVST) gapped up before the market opened on Tuesday . The stock had previously closed at $1.17, but opened at $1.38. Microvast shares last traded at $1.56, with a volume of 32,590,394 shares.

Microvast Stock Performance

The company has a market capitalization of $498.47 million, a price-to-earnings ratio of -4.04 and a beta of 2.20. The firm has a fifty day simple moving average of $1.65 and a 200 day simple moving average of $1.17. 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 (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. Microvast had a negative return on equity of 22.10% and a negative net margin of 30.88%. The company had revenue of $113.39 million for the quarter, compared to analysts’ expectations of $92.50 million. During the same period in the previous year, the firm posted ($0.04) EPS. On average, analysts anticipate that Microvast Holdings, Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Microvast

A number of large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets acquired a new position in Microvast during the fourth quarter worth $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Microvast during the 4th quarter valued at about $32,000. IMG Wealth Management Inc. purchased a new stake in shares of Microvast in the fourth quarter valued at about $38,000. Prudential Financial Inc. acquired a new stake in Microvast during the fourth quarter worth about $55,000. Finally, XTX Topco Ltd raised its stake in Microvast by 38.4% during the fourth quarter. XTX Topco Ltd now owns 119,066 shares of the company’s stock worth $246,000 after purchasing an additional 33,016 shares during the period. 20.72% of the stock is currently owned by hedge funds and other institutional investors.

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.