Microvast Holdings, Inc. (NASDAQ:MVST – Get Free Report) shares were up 7.2% during trading on Thursday . The company traded as high as $1.5650 and last traded at $1.5550. Approximately 760,588 shares traded hands during trading, a decline of 83% from the average daily volume of 4,396,380 shares. The stock had previously closed at $1.45.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the company. Wall Street Zen lowered Microvast from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Microvast in a research report on Friday, March 27th. Finally, Zacks Research cut Microvast from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 19th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.
View Our Latest Stock Report on Microvast
Microvast Stock Performance
Microvast (NASDAQ:MVST – Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.09). The business had revenue of $60.61 million during the quarter, compared to analysts’ expectations of $99.02 million. Microvast had a negative return on equity of 6.12% and a negative net margin of 11.52%.
Insiders Place Their Bets
In other Microvast news, CTO Wenjuan Mattis sold 48,346 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $1.32, for a total value of $63,816.72. Following the completion of the transaction, the chief technology officer owned 932,678 shares in the company, valued at $1,231,134.96. This represents a 4.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 44.80% of the company’s stock.
Hedge Funds Weigh In On Microvast
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Microvast by 14.6% during the third quarter. Vanguard Group Inc. now owns 12,010,655 shares of the company’s stock worth $46,241,000 after buying an additional 1,533,708 shares during the last quarter. Geode Capital Management LLC lifted its stake in Microvast by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 4,842,635 shares of the company’s stock valued at $13,561,000 after purchasing an additional 212,228 shares during the last quarter. Millennium Management LLC lifted its stake in Microvast by 101.6% in the first quarter. Millennium Management LLC now owns 4,646,060 shares of the company’s stock valued at $5,436,000 after purchasing an additional 2,341,637 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Microvast by 31.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,859,317 shares of the company’s stock valued at $10,806,000 after purchasing an additional 927,013 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Microvast by 125.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,363,006 shares of the company’s stock valued at $3,542,000 after purchasing an additional 1,314,060 shares during the period. Institutional investors own 20.72% of the company’s stock.
About Microvast
Microvast Holdings, Inc, traded on NASDAQ under the symbol MVST, is a global provider of advanced lithium-ion battery solutions for transportation and stationary energy storage applications. The company designs, develops and manufactures a range of battery cells, modules and packs tailored to electric buses, commercial vehicles, passenger cars and grid storage systems. Its technology emphasizes fast charging, long cycle life and high energy density to meet stringent performance requirements in demanding operating environments.
Founded in 2006, Microvast has established a vertically integrated platform that spans research and development, pilot production and full-scale manufacturing.
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