In the last trading session, 6.24 million Microvast Holdings Inc. (NASDAQ:MVST) shares changed hands as the company’s beta touched 1.48. With the company’s per share price at $2.03 changed hands at -$0.08 or -3.79% during last session, the market valuation stood at $652.91M. MVST’s last price was a discount, traded about -43.35% off its 52-week high of $2.91. The share price had its 52-week low at $0.88, which suggests the last value was 56.65% up since then. When we look at Microvast Holdings Inc.’s average trading volume, we note the 10-day average is 3.28 million shares, with the 3-month average coming to 4.34 million.
Analysts gave the Microvast Holdings Inc. (MVST) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.30. If we narrow down to specifics, the data shows that 0 out of 3 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended MVST as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Microvast Holdings Inc.’s EPS for the current quarter is expected to be -$0.06.
Microvast Holdings Inc. (NASDAQ:MVST) trade information
Instantly MVST was in red as seen at the end of in last trading. With action -3.79%, the performance over the past five days has been red. The drop to weekly highs of 2.30 on Friday, 09/15/23 subtracted -3.79% to the stock’s daily price. The company’s shares are showing year-to-date upside of 32.68%, with the 5-day performance at -3.79% in the red. However, in the 30-day time frame, Microvast Holdings Inc. (NASDAQ:MVST) is 6.28% up. Looking at the short shares, we see there were 17.97 million shares sold at short interest cover period of 4.09 days.
The consensus price target for the stock as assigned by Wall Street analysts is $8.00, meaning bulls need an upside of 74.63% from its current market value. According to analyst projections, MVST’s forecast low is $8.00 with $8.00 as the target high. To hit the forecast high, the stock’s price needs a -294.09% plunge from its current level, while the stock would need to soar -294.09% for it to hit the projected low.
Microvast Holdings Inc. (MVST) estimates and forecasts
Data shows that the Microvast Holdings Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 57.36% over the past 6 months, a 44.00% in annual growth rate that is considerably higher than the industry average of 17.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Microvast Holdings Inc. will rise 76.90%, while the growth in revenue is estimated to hit 80.00% for the next quarter. Year-over-year growth is forecast to reach 73.20% up from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $76.24 million. 3 analysts are of the opinion that Microvast Holdings Inc.’s revenue for the quarter ending Dec 2023 will be $156.27 million. The company’s revenue for the corresponding quarters a year ago was $52.7 million and $64.8 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 44.70%. The estimates for the next quarter sales put growth at 141.20%.
The 2023 estimates are for Microvast Holdings Inc. earnings to increase by 33.00%.
Microvast Holdings Inc. is expected to release its next quarterly earnings report in October.
Microvast Holdings Inc. (NASDAQ:MVST)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 68.39% of Microvast Holdings Inc. shares while 26.26% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 83.07%. There are 26.26% institutions holding the Microvast Holdings Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 3.72% of the shares, roughly 11.5 million MVST shares worth $18.4 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 3.32% or 10.28 million shares worth $16.44 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Global X Fds-Global X Autonomous & Electric Vehicles ETF. With 4.66 million shares estimated at $7.45 million under it, the former controlled 1.51% of total outstanding shares. On the other hand, Global X Fds-Global X Autonomous & Electric Vehicles ETF held about 1.11% of the shares, roughly 3.43 million shares worth around $9.85 million.