In yesterday’s Wall Street session, Microvast Holdings Inc (NASDAQ:MVST) shares traded at $0.31, up 11.17% from the previous session.
MVST stock price is now -8.18% away from the 50-day moving average and -51.45% away from the 200-day moving average. The market capitalization of the company currently stands at $98.74M.
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On November 29, 2023, Cantor Fitzgerald recently initiated its ‘Overweight’ rating on the stock quoting a target price of $8, while ‘Janney’ rates the stock as ‘Buy’
In other news, Stephen A. Vogel, Former Board Member bought 2,800,000 shares of the company’s stock on Sep 06 ’24. The stock was bought for $761,600 at an average price of $0.27. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 14 ’23, Director Zheng Yanzhuan sold 1,000,000 shares of the business’s stock. A total of $1,300,000 was realized by selling the stock at an average price of $1.30. This leaves the insider owning 710,000 shares of the company worth $0.22 million. A total of 44.10% of the company’s stock is owned by insiders.
During the past 12 months, Microvast Holdings Inc has had a low of $0.18 and a high of $2.04. As of last week, the company has a debt-to-equity ratio of 0.46, a current ratio of 1.12, and a quick ratio of 0.71. The fifty day moving average price for MVST is $0.33708 and a two-hundred day moving average price translates $0.63757 for the stock.
The latest earnings results from Microvast Holdings Inc (NASDAQ: MVST) was released for 2024-06-30. The net profit margin was -44.02% and return on equity was -29.16% for MVST. The company reported revenue of $83.67 million for the quarter, compared to $74.95 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.64 percent.
