Microvast Holdings Inc (NASDAQ:MVST) finished Friday with an addition of $0.03 to close at $1.89, an upside of 1.61 percent. An average of 1,698,640 shares of common stock have been traded in the last five days. There was a gain of $0.1300 in the past week, and it reached a new high 12 times over the past 12 months. The last 20 days have seen an average of 2,667,155 shares traded, while the 50-day average volume stands at 3,719,898.
MVST stock has increased by 4.42% in the last month. The company shares reached their 1-month lowest point of $1.7100 on 09/25/23. With the stock rallying to its 52-week high on 08/01/23, shares of the company touched a low of $0.88 and a high of $2.91 in 52 weeks. It has reached a new high 15 times so far this year and achieved 23.53% or $0.3600 in price. In spite of this, the price is down -35.05% from the 52-week high.
Insider Transactions
MVST stock investors should be aware that Microvast Holdings Inc (MVST) stock had its last reported insider trading activity 15 days ago on Sep 15.
Valuation Metrics
Microvast Holdings Inc (MVST) stock’s beta is 1.51. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.60, the price-to-book (PB) ratio at 1.01.
Financial Health
The quick ratio of Microvast Holdings Inc for the three months ended June 29 was 1.16, and the current ratio was 1.46, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.16 and a total debt to equity ratio of 0.28 for the quarter ending June 29. Its gross profit as reported stood at $9.07 million compared to revenue of $204.5 million.
Earnings Surprise
For the three-month period that ended June 29, Microvast Holdings Inc had $31.03 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$26.09 million in the quarter, while revenues of -$29.58 million were shrunk -69.34%. The analyst consensus anticipated Microvast Holdings Inc’s latest quarter earnings to come in at -$0.09 per share, but it turned out to be -$0.02, a 77.80% surprise. For the quarter, EBITDA amounted to -$21.77 million. Shareholders own equity worth $316.31 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Microvast Holdings Inc (MVST) price momentum. RSI 9-day as of the close on 29 September was 47.15%, suggesting the stock is Neutral, with historical volatility in this time frame at 42.48%.
As of today, MVST’s price is $1.8320 +7.39% or $0.1300 from its 5-day moving average. MVST is currently trading -15.25% lower than its 20-day SMA and +58.82% higher than its 100-day SMA. However, the stock’s current price level is -28.14% below the SMA50 and -3.57% below the SMA200.
The stochastic %K and %D were 27.68% and 21.66%, respectively, and the average true range (ATR) was 0.1167. With the 14-day stochastic at 30.51% and the average true range at 0.1341, the RSI (14) stands at 45.95%. The stock has reached 0.0467 on the 9-day MACD Oscillator while the 14-day reading was at -0.0460.
Analyst Ratings
Janney launched coverage on Microvast Holdings Inc (NASDAQ: MVST) in its analyst report released on August 31, 2023. The firm assigned the stock a Buy rating. The consensus rating for Microvast Holdings Inc (MVST) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell MVST, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.
What is MVST’s price target for the next 12 months?
Analysts predict a range of price targets between $8.00 and $8.00, with a median target of $8.00. Taking a look at these predictions, the average price target given by analysts for Microvast Holdings Inc (MVST) stock is $8.00.
