Microvast Sees Unusually High Options Volume (NASDAQ:MVST)

Microvast Holdings, Inc. (NASDAQ:MVST) was the recipient of some unusual options trading on Tuesday. Investors bought 19,868 call options on the company. This is an increase of 248% compared to the average volume of 5,704 call options.

Institutional Investors Weigh In On Microvast

Several institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new position in shares of Microvast in the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new position in Microvast during the fourth quarter valued at $32,000. IMG Wealth Management Inc. purchased a new position in Microvast during the fourth quarter valued at $38,000. Prudential Financial Inc. purchased a new position in Microvast during the fourth quarter valued at $55,000. Finally, XTX Topco Ltd raised its stake in Microvast by 38.4% during the fourth quarter. XTX Topco Ltd now owns 119,066 shares of the company’s stock valued at $246,000 after buying an additional 33,016 shares during the last quarter. Hedge funds and other institutional investors own 20.72% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price objective on shares of Microvast in a research note on Tuesday, April 8th.

Microvast Trading Down 1.0%

Shares of Microvast stock opened at $3.08 on Thursday. The stock has a fifty day simple moving average of $1.77 and a 200 day simple moving average of $1.55. Microvast has a 12-month low of $0.15 and a 12-month high of $3.47. The company has a market capitalization of $1.00 billion, a P/E ratio of -8.11 and a beta of 2.72. The company has a current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24.

Microvast (NASDAQ:MVST) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.10. The firm had revenue of $116.49 million for the quarter, compared to analysts’ expectations of $104.00 million. Microvast had a negative return on equity of 22.10% and a negative net margin of 30.88%. On average, sell-side analysts anticipate that Microvast will post -0.3 earnings per share for the current fiscal year.

Microvast Company Profile

Microvast Holdings, Inc provides battery technologies for electric vehicles and energy storage solutions. The company offers a range of cell chemistries, such as lithium titanate oxide, lithium iron phosphate, and nickel manganese cobalt version 1 and 2. It also designs, develops, and manufactures battery components, such as cathode, anode, electrolyte, and separator.