Microvast Holdings Inc [NASDAQ: MVST] traded at a low on 11/13/23, posting a -9.35 loss after which it closed the day’ session at $1.26. The company report on November 9, 2023 at 4:05 PM that Microvast Reports Third Quarter 2023 Financial Results.
Revenue increased 107.5% year over year to $80.1 million.
Achieved record backlog of $678.7 million, up 382.7% year over year.
The results of the trading session contributed to over 5590401 shares changing hands. Over the past one week, the price volatility of Microvast Holdings Inc stands at 10.60% while the volatility over the past one month is 9.16%.
The market cap for MVST stock reached $389.86 million, with 307.63 million shares outstanding and 204.37 million shares in the current float. Compared to the average trading volume of 2.67M shares, MVST reached a trading volume of 5590401 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Microvast Holdings Inc [MVST]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MVST shares is $8.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MVST stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Janney have made an estimate for Microvast Holdings Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 31, 2023.
The Average True Range (ATR) for Microvast Holdings Inc is set at 0.13, with the Price to Sales ratio for MVST stock in the period of the last 12 months amounting to 1.73. The Price to Book ratio for the last quarter was 0.67, with the Price to Cash per share for the same quarter was set at 0.63.
How has MVST stock performed recently?
Microvast Holdings Inc [MVST] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.70. With this latest performance, MVST shares dropped by -22.70% in over the last four-week period, additionally sinking by -30.00% over the last 6 months – not to mention a drop of -48.36% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MVST stock in for the last two-week period is set at 40.67, with the RSI for the last a single of trading hit 41.57, and the three-weeks RSI is set at 40.56 for Microvast Holdings Inc [MVST]. The present Moving Average for the last 50 days of trading for this stock 1.6698, while it was recorded at 1.3130 for the last single week of trading, and 1.6472 for the last 200 days.
Microvast Holdings Inc [MVST]: Deeper insight into the fundamentals
Microvast Holdings Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.16 and a Current Ratio set at 1.46.
Insider trade positions for Microvast Holdings Inc [MVST]
The top three institutional holders of MVST stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in MVST stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in MVST stock with ownership which is approximately 5.7994%.