The Vanguard Group, Inc. has recently announced that it has increased stake in Microvast Holdings Inc (NASDAQ:MVST) by 8.77%. After grabbing 12.29 million shares, the institutional investor is now in possession of 0.99 million shares of the Industrials Company. The new investment brought the stake of investor firm to 3.88% having worth around $17.21 million. Moreover, BlackRock Fund Advisors increased its share by 0.32 million to have a control over 9.45 million shares. And Owl Creek Asset Management LP raised its holdings to 1.0 million shares by acquiring 7.17 million shares or 2.27% of the stake.
Microvast Holdings Inc (MVST) concluded trading on Wednesday at a closing price of $0.86, with 4.26 million shares of worth about $3.67 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -62.28% during that period and On Wednesday, January 24 the price saw a loss of about -12.16%. Currently the company’s common shares owned by public are about 307.63M shares, out of which, 212.49M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 10 times over the past 12 months. They bought 418,000 shares in 8 of the transactions. In 2 selling transactions, insiders dumped 1,313,009 shares.
iShares Russell 2000 ETF, Vanguard Total Stock Market ETF, and Vanguard Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Microvast Holdings Inc iShares Russell 2000 ETF is currently holding 5.46 million shares of worth totaling $7.64 million. The company recently came selling 14454.0 shares which brought its stake up to 1.73% of the company’s outstanding shares. Vanguard Extended Market Index Fu, after buying 3.4 million shares, have now control over 1.07% of the stake in the company. It holds 21792.0 shares of worth $4.75 million.
However, the stock later moved at a day high price of 0.9989, or with a loss of -12.16%. Stock saw a price change of -10.37% in past 5 days and over the past one month there was a price change of -28.92%. Year-to-date (YTD), MVST shares are showing a performance of -38.56% which decreased to -49.11% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.84 but also hit the highest price of $2.91 during that period. The average intraday trading volume for Microvast Holdings Inc shares is 4.56 million. The stock is currently trading -28.23% below its 20-day simple moving average (SMA20), while that difference is down -28.03% for SMA50 and it goes to -46.41% lower than SMA200.
The Vanguard Group, Inc. acquired 12.29 million shares of Microvast Holdings Inc having value of about $17.21 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.99 million shares in the company valued at close to $852554.12, or have control over 8.77% stake in the company. Microvast Holdings Inc (NASDAQ: MVST) currently have 307.63M outstanding shares and institutions hold larger chunk of about 20.53% of that. Holding of mutual funds in the company is about 28.52% while other institutional holders and individual stake holders have control over 9.31% and 11.81% of the stake respectively.
The stock has a current market capitalization of $272.26M and its 3Y-monthly beta is at 1.50. It has posted earnings per share of -$0.37 in the same period. It has Quick Ratio of 0.82 while making debt-to-equity ratio of 0.28. 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 11.08% while standing at 8.49% over the month.
Analysts are in expectations that Microvast Holdings Inc (MVST) stock would likely to be making an EPS of -$0.07 in the current quarter, while forecast for next quarter EPS is -$0.07 and it is -$0.13 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.09 which is -$0.02 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 -$0.05 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 18.89% while it is estimated to increase by 93.55% in next year.
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 Cantor Fitzgerald on November 29, 2023 offering an Overweight rating for the stock and assigned a target price of $8 to it.
