Microvast Holdings Inc (NASDAQ: MVST) stock fell -2.99% on Monday to $1.30 against a previous-day closing price of $1.34. With 3.82 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.8 million shares. During the session, the Electrical Equipment & Parts company that operates in wider Industrials sector, reached to the highest price of $1.3650 whereas the lowest price it dropped to was $1.2600. The 52-week range on MVST shows that it touched its highest point at $2.91 and its lowest point at $0.88 during that stretch. It currently has a 1-year price target of $9.00. Beta for the stock currently stands at 1.56.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MVST was up-trending over the past week, with a rise of 3.17%, but this was down by -2.99% over a month. Three-month performance dropped to -19.25% while six-month performance fell -40.91%. The stock lost -43.23% in the past year, while it has lost -15.03% so far this year. A look at the trailing 12-month EPS for MVST yields -0.37 with Next year EPS estimates of 0.06. For the next quarter, that number is -0.03. This implies an EPS growth rate of 48.98% for this year and 146.15% for next year.
Float and Shares Shorts:
At present, 307.63 million MVST shares are outstanding with a float of 210.09 million shares on hand for trading. On Oct 30, 2023, short shares totaled 18.12 million, which was 5.86% higher than short shares on Sep 28, 2023. In addition to Mr. Yang Wu as the firm’s Founder, Chairman & CEO, Mr. Craig Webster serves as its Chief Financial Officer.
Through their ownership of 26.26% of MVST’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.72% of MVST, in contrast to 29.18% held by mutual funds. Shares owned by individuals account for 11.67%. As the largest shareholder in MVST with 3.97% of the stake, The Vanguard Group, Inc. holds 12,291,099 shares worth 12,291,099. A second-largest stockholder of MVST, BlackRock Fund Advisors, holds 9,451,599 shares, controlling over 3.06% of the firm’s shares. Owl Creek Asset Management LP is the third largest shareholder in MVST, holding 7,171,012 shares or 2.32% stake. With a 1.52% stake in MVST, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 4,691,275 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.09% of MVST stock, is the second-largest Mutual Fund holder. It holds 3,367,255 shares valued at 4.14 million. Global X Autonomous & Electric Ve holds 1.03% of the stake in MVST, owning 3,178,698 shares worth 3.91 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MVST since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MVST analysts setting a high price target of $11.00 and a low target of $8.00, the average target price over the next 12 months is $9.00. Based on these targets, MVST could surge 746.15% to reach the target high and rise by 515.38% to reach the target low. Reaching the average price target will result in a growth of 592.31% from current levels.
Summary of Insider Activity:
Insiders traded MVST stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 13,000 shares were bought while 313,009 shares were sold. The number of buy transactions has increased to 8 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 418,000 while 313,009 shares were sold.