Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in Microvast Holdings, Inc. (NASDAQ:MVST)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Microvast Holdings, Inc. (NASDAQ:MVST – Get Rating) by 45.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,454 shares of the company’s stock after purchasing an additional 8,638 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Microvast were worth $42,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MVST. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Microvast by 171.0% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 55,213 shares of the company’s stock valued at $84,000 after acquiring an additional 34,837 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Microvast by 19.2% in the third quarter. Bank of New York Mellon Corp now owns 571,163 shares of the company’s stock valued at $1,034,000 after acquiring an additional 91,836 shares in the last quarter. Toroso Investments LLC raised its holdings in shares of Microvast by 72.4% in the third quarter. Toroso Investments LLC now owns 397,550 shares of the company’s stock valued at $720,000 after acquiring an additional 166,930 shares in the last quarter. Alliancebernstein L.P. purchased a new position in Microvast in the third quarter valued at about $31,000. Finally, State Street Corp grew its stake in Microvast by 0.9% in the third quarter. State Street Corp now owns 3,908,301 shares of the company’s stock valued at $7,074,000 after purchasing an additional 34,679 shares during the last quarter. 22.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MVST shares. HC Wainwright assumed coverage on Microvast in a research note on Monday, April 3rd. They issued a “buy” rating and a $8.00 target price on the stock. Oppenheimer restated an “outperform” rating and set a $8.00 price target on shares of Microvast in a research note on Friday, March 17th.

Microvast Price Performance

Shares of NASDAQ MVST opened at $1.66 on Friday. The business’s 50 day moving average price is $1.23 and its 200 day moving average price is $1.62. The firm has a market cap of $513.65 million, a P/E ratio of -3.46 and a beta of 1.26. Microvast Holdings, Inc. has a 52 week low of $0.88 and a 52 week high of $5.76. The company has a quick ratio of 1.83, a current ratio of 2.16 and a debt-to-equity ratio of 0.12.

Microvast (NASDAQ:MVST – Get Rating) last announced its quarterly earnings results on Thursday, March 16th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. Microvast had a negative return on equity of 25.07% and a negative net margin of 77.36%. The company had revenue of $64.80 million during the quarter, compared to the consensus estimate of $60.50 million. On average, sell-side analysts expect that Microvast Holdings, Inc. will post -0.45 earnings per share for the current year.

Microvast Profile

(Get Rating)

Microvast Holdings, Inc designs, develops, and manufactures battery systems for electric vehicles and energy storage systems. 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.