Short interest in MVST has declined by 8% since mid-May 2024, which many read as a sentiment shift toward optimism. MVST stock forecast signals that reduction in bearish bets typically precedes upward price action. Free: Instant Access to Zacks' Market-Crushing Strategies The company is specifically focused in the identity verification and fraud detection niche. This continues to be a fast-growing segment within the broader category of cybersecurity. In that sense, the company is more like Okta Inc. NASDAQ: OKTA but with a narrower focus. The company is known for its proprietary, real-time technology that reads data directly from IDs (e.g., a driver’s license) without relying on large databases. Institutional research firms’ MVST stock forecast suggests 2024 could be a pivotal year, with capital expenditure set to increase 15% for capacity expansion, aiming to meet rising customer demand in energy storage systems.