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

Microvast (NASDAQ:MVSTGet Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $67.63 million. During the same period last year, the business earned ($0.10) earnings per share. Microvast updated its Q2 2024 guidance to EPS.

Microvast Stock Performance

MVST traded down $0.01 during trading on Friday, hitting $0.43. The stock had a trading volume of 5,524,523 shares, compared to its average volume of 3,540,621. The firm has a market cap of $135.19 million, a PE 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. Microvast has a 12 month low of $0.32 and a 12 month high of $2.91. The company has a 50 day simple moving average of $0.58 and a 200-day simple moving average of $0.93.

Analysts Set New Price Targets

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

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Microvast Company Profile

(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.

Further Reading

Earnings History for Microvast (NASDAQ:MVST)

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