The Vanguard Group, Inc. has recently announced that it has increased stake in Microvast Holdings Inc. (NASDAQ:MVST) by 2.75%. After grabbing 14.77 million shares, the institutional investor is now in possession of 0.4 million shares of the Industrials Company. The new investment brought the stake of investor firm to 4.78% having worth around $19.06 million. Moreover, Owl Creek Asset Management LP increased its share by 3.68 million to have a control over 6.45 million shares. And SSgA Funds Management, Inc. raised its holdings to 0.33 million shares by acquiring 4.24 million shares or 1.37% of the stake.
Microvast Holdings Inc. (MVST) concluded trading on 03/16/23 at a closing price of $1.29, with 2.14 million shares of worth about $2.76 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -41.63% during that period and on Thursday the price saw a loss of about -0.77%. Currently the company’s common shares owned by public are about 305.98M shares, out of which, 177.19M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 1 analysts are covering the MVST stock and their offered price forecasts bring an average price target of $8.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $8.00 and could fall to a lowest price of $8.00. The stock’s current price level is 83.88% above of average price target set by the analysts, while a rise to estimated low would result in gain of 83.88% for the stock. However, touching the estimated high of $8.00 would mean a gain of 83.88% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 21 times over the past 12 months. They bought 12,335,672 shares in 14 of the transactions. In 7 selling transactions, insiders dumped 12,999,353 shares.
Vanguard Total Stock Market Index, Global X Autonomous & Electric Ve, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Microvast Holdings Inc. Vanguard Total Stock Market Index is currently holding 4.66 million shares of worth totaling $6.01 million. The company recently came buying 0.0 shares which brought its stake up to 1.51% of the company’s outstanding shares. Vanguard Small Cap Index Fund, after buying 3.99 million shares, have now control over 1.29% of the stake in the company. It holds 21848.0 shares of worth $5.15 million.
Microvast Holdings Inc. (NASDAQ: MVST) started trading at $1.28, below -$0.02 from concluding price of the previous day. However, the stock later moved at a day high price of 1.3300, or with a loss of -0.77%. Stock saw a price change of 5.74% in past 5 days and over the past one month there was a price change of -14.00%. Year-to-date (YTD), MVST shares are showing a performance of -15.69% which decreased to -83.14% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.15 but also hit the highest price of $8.00 during that period. The average intraday trading volume for Microvast Holdings Inc. shares is 1.49 million. The stock is currently trading -3.50% below its 20-day simple moving average (SMA20), while that difference is down -14.99% for SMA50 and it goes to -40.52% lower than SMA200.
The Vanguard Group, Inc. acquired 14.77 million shares of Microvast Holdings Inc. having value of about $19.06 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.4 million shares in the company valued at close to $509793.81, or have control over 2.75% stake in the company. Microvast Holdings Inc. (NASDAQ: MVST) currently have 305.98M outstanding shares and institutions hold larger chunk of about 38.70% of that. Holding of mutual funds in the company is about 12.58% while other institutional holders and individual stake holders have control over 29.37% and 11.23% of the stake respectively.
The stock has a current market capitalization of $405.60M and its 3Y-monthly beta is at 1.27. It has posted earnings per share of -$0.57 in the same period. It has Quick Ratio of 2.10 while making debt-to-equity ratio of 0.31. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MVST, volatility over the week remained 7.72% while standing at 7.57% over the month.
Analysts are in expectations that Microvast Holdings Inc. (MVST) stock would likely to be making an EPS of -$0.15 in the current quarter, while forecast for next quarter EPS is $0 and it is -$0.44 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.15 which is -$0.15 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.26 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -189.10% while it is estimated to increase by 21.40% in next year.
Analysts at 1 brokerage firms have issued recommendations for the Microvast Holdings Inc. (MVST)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.00. Out of those 1 Wall Street analysts, 1 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Oppenheimer on August 19, 2022 offering an Outperform rating for the stock and assigned a target price of $8 to it. Coverage by Piper Sandler stated Microvast Holdings Inc. (MVST) stock as a Neutral in their note to investors on December 17, 2021, suggesting a price target of $8 for the stock.
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