|Over a week ago|
Microvast announces outcome of XFC project » 06:0809/2609/26/22
Microvast Holdings announced the outcome of its extreme fast charge project, funded in part by the US Department of Energy's Office of Energy Efficiency & Renewable Energy - Vehicle Technologies Office. The stated goal of this XFC project was to deliver a lithium-ion automotive format pouch cell for electric vehicles capable of exceeding 500 cycles while charging in less than 10 minutes and (2) delivering at start of life greater than 180 Wh/kg of stored energy after 10-minute charge, greatly improving the accessibility and driving mobility for EVs. During this project, Microvast worked with Argonne National Laboratory to provide advanced cell system characterization and BMW provided OEM charging considerations and general feedback. Microvast delivered a 35 Ah, 240 Wh/kg pouch cell using layered metal oxide and graphite chemistry to the US DOE National Lab for independent testing. The XFC cells were tested using a 10-minute fast charge and 1C discharge at 30degreesC. Under these conditions, the XFC cells delivered over 1,700 cycles before reaching end of life, which exceeded the stated goal of the life cycle of the project's prototype cells by 3.4X.
|Over a month ago|
Street Wrap: Today's Top 15 Upgrades, Downgrades, Initiations » 09:3608/1908/19/22
HPQ, MCFT, CSGS, MVST, SNOW, BHVN, CRMT, UDR, DNUT, MLM, VMC, DVA, ZTO, HMN, FL, CCSI, ULTA
Oppenheimer starts Microvast with Outperform, $8 price target » 16:1008/1808/18/22
Oppenheimer analyst Colin…
Oppenheimer analyst Colin Rusch initiated coverage of Microvast with an Outperform rating and $8 price target. The analyst views Microvast as a "pioneering battery material company, innovating around the molecular structure of critical battery composition to improve battery performance and reduce material use." A challenge of increased electrification and emissions reduction in the power, heat, and transportation sectors is availability of battery materials, and Microvast addresses this, Rusch tells investors in a research note.
Microvast initiated with an Outperform at Oppenheimer » 16:0508/1808/18/22
Oppenheimer analyst Colin…
Oppenheimer analyst Colin Rusch initiated coverage of Microvast with an Outperform rating and $8 price target.
Microvast reports Q2 EPS (15c) vs. (40c) last year » 17:0108/1108/11/22
Reports Q2 revenue $64.4M…
Reports Q2 revenue $64.4M vs. $33.4M last year. "Second quarter revenue performance of $64.4 million is a solid achievement, especially considering our main export hub in Shanghai was locked down during the first half of Q2 2022," said Craig Webster, Microvast's Chief Financial Officer. "We are beginning to see leverage from higher volumes of sales, which contributed to gross margin improvement during Q2 2022 despite higher raw material prices compared to the prior year period. Gross margins will remain a focus as we prepare for significantly higher customer deliveries in 2023 from our new production line in Huzhou."
Largest borrow rate increases among liquid names » 08:4508/1108/11/22
ISPO, MVST, FFIE, TIGR, HYLN, EVGO, ENDP, YELL, AMRS, CVNA
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: Inspirato (ISPO) 67.87% +16.69, Microvast Holdings (MVST) 12.79% +6.37, Faraday Future Intelligent Electric (FFIE) 6.66% +0.82, UP Fintech Holding Ltd (TIGR) 34.99% +0.64, Hyliion Holdings (HYLN) 1.93% +0.43, EVgo (EVGO) 42.02% +0.40, Endo (ENDP) 7.60% +0.33, Yellow Corp (YELL) 3.48% +0.29, Amyris (AMRS) 2.44% +0.28, and Carvana (CVNA) 1.29% +0.25.
|Over a quarter ago|
Microvast joins Russell 3000 Index » 07:0606/2706/27/22
Microvast announced that…
Microvast announced that it has joined the broad-market Russell 3000 Index in connection with the 2022 Russell indexes annual reconstitution. "Inclusion in the Russell indexes marks an important milestone for Microvast as a publicly traded company," said Sascha Kelterborn, President of Microvast. "We also believe that inclusion in the Russell indexes will broaden awareness of Microvast within the institutional investor community and open up a new category of potential investors. We welcome the increased visibility as we continue our efforts to drive value for our shareholders."
Microvast backs FY22 revenue growth view of 35%-45% » 19:2105/1605/16/22
Microvast states: "The Company's backlog at the end of Q1 2022 was $120.8M, an increase of 85.6% compared to $65.1 million at the end of Q1 2021. We are very optimistic about incoming orders during the remainder of 2022. Capital expenditures during Q1 2022 were $41.1 million compared to $25.4M in Q1 2021. The Company continues to expect total capital expenditures in FY 2022 to be in the range of $300.0M to $350.0M, which will be primarily used in connection with the Company's ongoing manufacturing capacity expansions in Huzhou, China and Clarksville, Tennessee, which are expected to begin ramping up in Q4 2022 and Q3 2023, respectively. Once completed, these expansions will add an additional 4 Gigawatt hours of capacity per year in total and be primarily dedicated to our recently announced larger format battery cells."
Microvast reports Q1 EPS (15c) vs. (29c) last year » 19:2005/1605/16/22
Reports Q1 revenue $36.7M…
Reports Q1 revenue $36.7M vs. $14.9M last year. "Our first quarter revenue performance exceeded our expectations and our order book looks very strong," said Craig Webster, Microvast's CFO. "Looking forward, we are focused on sales growth throughout the year, growing our multi-year order book and executing on our capacity expansion plans, which are well underway and fully funded from our cash on hand."
TUV SUD supports Microvast in sustainable battery production » 08:2505/1205/12/22
TUV SUD has developed a…
TUV SUD has developed a sustainability assessment program for battery production, which is currently being implemented for the first time in a pilot project with Microvast Holdings. When developing its sustainability assessment program, TUV SUD was guided by the holistic sustainable development goals of the United Nations and took these goals as a basis to define specific criteria and indicators that allowed its technical inspection experts to assess and quantify sustainability. TUV SUD even considered the requirements of the future EU Battery Directive. The TUV SUD sustainability assessment program is designed to support manufacturers in developing more sustainable battery production operations which will ultimately encompass not only ecological, but also social and economic aspects. In a pilot project for the first stage of the sustainability assessment, TUV SUD reviewed the current status of corporate sustainability at several of Microvast's facilities. The pilot project marked the debut of a newly developed SDG assessment tool which enables impartial, holistic, and transparent recording and assessment of the underlying data to be performed. The results of the first stage of the sustainability assessment were summarized in a status report, which Microvast will use as a baseline for advancing its sustainability initiatives.