The Vanguard Group, Inc. recently announced the acquisition of new stake in Microvast Holdings Inc (NASDAQ:MVST). The institutional investor has increased its shareholding in the Industrials company by 8.77% to 12.29 million shares with purchase of 0.99 million shares. This fresh investment now brings its stake to 3.97% valued currently at $15.12 million. In addition, BlackRock Fund Advisors raised its holdings by 0.32 million to 9.45 million shares. And Owl Creek Asset Management LP has lifted its position by 16.20% or 1.0 million shares – to 7.17 million shares.
With over 3.77 million Microvast Holdings Inc (MVST) shares trading Tuesday and a closing price of $1.03 on the day, the dollar volume was approximately $3.89 million. Currently, there are 307.63M common shares owned by the public and among those 210.09M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for MVST have a consensus price objective of $9.00. The analysts have set the share’s price value over the next 12 months at a high of $11.00 and a low of $8.00. The average price target is 88.56% above its recent price level and an upside to the estimated low will see the stock gain 87.12% over that period. But an upside of 90.64% will see the stock hit the forecast high price target while median target price for the stock is $8.00.
Insiders at the company have transacted a total of 9 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 8 of these insider trades were purchases, accounting for 418,000 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 313,009 shares.
The top 3 mutual fund holders in Microvast Holdings Inc are Vanguard Total Stock Market ETF, Vanguard Extended Market Index Fu, and Global X Autonomous & Electric Ve. Vanguard Total Stock Market ETF owns 4.69 million shares of the company’s stock, all valued at over $5.77 million. Vanguard Extended Market Index Fu sold 43495.0 shares to see its total holdings shrink to 3.37 million shares valued at over $4.14 million and representing 1.09% of the shares outstanding. Global X Autonomous & Electric Ve sold 12492.0 shares to bring its total holdings to over 3.18 million shares at a value of $3.91 million. Global X Autonomous & Electric Ve now owns shares totaling to 1.03% of the shares outstanding.
Shares of Microvast Holdings Inc (NASDAQ: MVST) opened at $1.07, up $0.04 from a prior closing price of $1.03. The company’s stock has a 5-day price change of -20.77% and -43.72% over the past three months. MVST shares are trading -32.68% year to date (YTD), with the 12-month market performance down to -52.53% lower. It has a 12-month low price of $0.84 and touched a high of $2.91 over the same period. MVST has an average intraday trading volume of 3.87 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -17.74%, -31.06%, and -36.63% respectively.
Institutional ownership of Microvast Holdings Inc (NASDAQ: MVST) shares accounts for 20.51% of the company’s 307.63M shares outstanding. Mutual fund holders own 29.18%, while other institutional holders and individual stakeholders account for 9.78% and 11.65% respectively.
It has a market capitalization of $326.04M and a beta (3y monthly) value of 1.43. The earnings-per-share (ttm) stands at -$0.37. Price movements for the stock have been influenced by the stock’s volatility, which stands at 18.63% over the week and 11.51% over the month.
Analysts forecast that Microvast Holdings Inc (MVST) will achieve an EPS of -$0.06 for the current quarter, -$0.05 for the next quarter and -$0.08 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.09 while analysts give the company a high EPS estimate of -$0.02. Comparatively, EPS for the current quarter was -$0.05 a year ago. Earnings per share for the fiscal year are expected to increase by 48.98%, and 146.15% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Microvast Holdings Inc (MVST) as a “Strong Buy” at a consensus score of 1.00. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MVST, a number of firms have released research notes about the stock. Janney stated their Buy rating for the stock in a research note on August 31, 2023, with the firm’s price target at $8.
