In the latest trading session, 6.49 million Microvast Holdings Inc (NASDAQ:MVST) shares changed hands as the company’s beta touched 2.55. With the company’s most recent per share price at $0.87 changing hands around $0.11 or 14.01% at last look, the market valuation stands at $251.23M. MVST’s current price is a discount, trading about -78.16% off its 52-week high of $1.55. The share price had its 52-week low at $0.15, which suggests the last value was 82.76% up since then. When we look at Microvast Holdings Inc’s average trading volume, we note the 10-day average is 15.49 million shares, with the 3-month average coming to 24.27 million.
Analysts gave the Microvast Holdings Inc (MVST) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended MVST as a Hold, 1 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 0.0.
Microvast Holdings Inc (NASDAQ:MVST) trade information
Instantly MVST is in green as seen in intraday trades today. With action 30.11%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -38.11%, with the 5-day performance at 30.11% in the green. However, in the 30-day time frame, Microvast Holdings Inc (NASDAQ:MVST) is 355.10% up. Looking at the short shares, we see there were 24.11 million shares sold at short interest cover period of 2.1 days.
The consensus price target for the stock as assigned by Wall Street analysts is 8, meaning bulls need an upside of 89.12% from its recent market value. According to analyst projections, MVST’s forecast low is 8 with 8 as the target high. To hit the forecast high, the stock’s price needs a -819.54% plunge from its current level, while the stock would need to soar -819.54% 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 not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 147.08% over the past 6 months, a -53.85% in annual growth rate that is considerably lower than the industry average of 17.80%. Year-over-year growth is forecast to reach 17.06% up from the last financial year.
Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of 92.5M. 1 analysts are of the opinion that Microvast Holdings Inc’s revenue for the current quarter will be 105.76M. The company’s revenue for the corresponding quarters a year ago was 104.58M and 81.35M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -11.54%. The estimates for the next quarter sales put growth at 30.00%.
The 2024 estimates are for Microvast Holdings Inc earnings to decrease by -103.85%.
MVST Dividends
Microvast Holdings Inc is expected to release its next quarterly earnings report in January.
Microvast Holdings Inc (NASDAQ:MVST)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 40.28% of Microvast Holdings Inc shares while 13.41% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 22.45%. There are 13.41% institutions holding the Microvast Holdings Inc stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 3.0729% of the shares, roughly 9.69 million MVST shares worth $4.42 million.
OWL CREEK ASSET MANAGEMENT, L.P. holds the second largest percentage of outstanding shares, with 2.1611% or 6.82 million shares worth $3.11 million as of 2024-06-30.
Among Mutual Funds, the top two as of Jun 30, 2023 were Vanguard Total Stock Market Index Fund and Global X Fds-Global X Autonomous & Electric Vehicles ETF. With 4.66 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 1.06% of the shares, roughly 3.29 shares worth around $6.21 million.
