What's Going On With Microvast Stock Tuesday?
Portfolio Pulse from Adam Eckert
Microvast Holdings Inc (NASDAQ:MVST) reported Q4 financial results with a 61.4% year-over-year revenue increase to $104.58 million, surpassing estimates. Despite beating adjusted EPS estimates, the company's weak Q1 guidance, expecting revenue between $65 million to $75 million versus estimates of $132.84 million, led to a 31.7% drop in its stock price. Oppenheimer analyst Colin Rusch maintained an Outperform rating but lowered the price target from $8 to $4.
April 02, 2024 | 4:51 pm
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Microvast reported a significant year-over-year revenue increase in Q4 but provided weak Q1 guidance, leading to a substantial stock price drop. Oppenheimer maintains an Outperform rating but lowers the price target.
Microvast's Q4 financial performance exceeded expectations, but its weak Q1 revenue guidance significantly below estimates has negatively impacted investor sentiment, leading to a sharp decline in its stock price. The adjustment of the price target by Oppenheimer further reflects the market's revised expectations for the company's near-term performance.
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IMPORTANCE 90
RELEVANCE 100