Microvast (NASDAQ:MVST) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Microvast (NASDAQ:MVSTGet Free Report) announced its earnings results on Thursday. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03), Zacks reports. Microvast had a negative return on equity of 18.37% and a negative net margin of 34.68%. The firm had revenue of $81.35 million for the quarter, compared to the consensus estimate of $67.63 million. During the same period in the previous year, the firm earned ($0.10) EPS. Microvast updated its Q2 2024 guidance to EPS.

Microvast Stock Down 2.4 %

NASDAQ MVST traded down $0.01 during trading on Friday, hitting $0.43. 5,524,523 shares of the company traded hands, compared to its average volume of 3,540,621. Microvast has a 12 month low of $0.32 and a 12 month high of $2.91. The business has a fifty day simple moving average of $0.59 and a 200 day simple moving average of $0.93. The company has a market capitalization of $135.19 million, a P/E ratio of -1.25 and a beta of 1.61. The company has a current ratio of 1.05, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MVST. HC Wainwright lowered their price objective on shares of Microvast from $8.00 to $3.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Janney Montgomery Scott reaffirmed a “neutral” rating and issued a $3.00 target price (down previously from $11.00) on shares of Microvast in a research report on Tuesday, April 2nd. Finally, Oppenheimer lowered their target price on Microvast from $8.00 to $4.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 2nd.

View Our Latest Report on MVST

About Microvast

(Get Free Report)

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.

See Also

Earnings History for Microvast (NASDAQ:MVST)

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