Microvast (NASDAQ:MVST) Announces Earnings Results, Beats Estimates By $0.10 EPS

Microvast (NASDAQ:MVST) announced its earnings results on Monday. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.10, Zacks reports. Microvast had a negative net margin of 30.88% and a negative return on equity of 22.10%.

Microvast Trading Up 8.6%

Shares of MVST traded up $0.19 during midday trading on Monday, hitting $2.39. The stock had a trading volume of 16,401,376 shares, compared to its average volume of 11,722,885. Microvast has a fifty-two week low of $0.15 and a fifty-two week high of $2.87. The business has a 50-day simple moving average of $1.69 and a two-hundred day simple moving average of $1.52. The firm has a market cap of $778.16 million, a P/E ratio of -6.29 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.

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.

About Microvast

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.