Microvast (NASDAQ:MVST) CTO Sells $63,816.72 in Stock

Microvast Holdings, Inc. (NASDAQ:MVSTGet Free Report) CTO Wenjuan Mattis sold 48,346 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $1.32, for a total transaction of $63,816.72. Following the transaction, the chief technology officer owned 932,678 shares of the company’s stock, valued at $1,231,134.96. This represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Microvast Trading Up 5.8%

NASDAQ MVST opened at $1.46 on Friday. The company has a market capitalization of $486.41 million, a PE ratio of -4.56 and a beta of 3.60. The company has a fifty day moving average of $1.69 and a 200 day moving average of $2.59. Microvast Holdings, Inc. has a 1 year low of $1.17 and a 1 year high of $7.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.96 and a quick ratio of 0.74.

Microvast (NASDAQ:MVSTGet Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.09). The business had revenue of $60.61 million for the quarter, compared to analyst estimates of $99.02 million. Microvast had a negative net margin of 11.52% and a negative return on equity of 6.12%. Research analysts forecast that Microvast Holdings, Inc. will post 0.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on MVST. Weiss Ratings restated a “sell (d-)” rating on shares of Microvast in a research report on Friday, March 27th. Wall Street Zen downgraded shares of Microvast from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, Zacks Research downgraded shares of Microvast from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 19th. Two research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Read Our Latest Report on MVST

Institutional Trading of Microvast

A number of institutional investors and hedge funds have recently modified their holdings of MVST. Millennium Management LLC increased its stake in shares of Microvast by 101.6% during the first quarter. Millennium Management LLC now owns 4,646,060 shares of the company’s stock worth $5,436,000 after purchasing an additional 2,341,637 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Microvast by 4,632.7% during the fourth quarter. First Trust Advisors LP now owns 2,088,304 shares of the company’s stock worth $5,847,000 after purchasing an additional 2,044,179 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 1,533,708 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Microvast by 125.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,363,006 shares of the company’s stock worth $3,542,000 after purchasing an additional 1,314,060 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Microvast by 349.0% during the second quarter. Bank of America Corp DE now owns 1,636,970 shares of the company’s stock worth $5,942,000 after purchasing an additional 1,272,420 shares in the last quarter. Hedge funds and other institutional investors own 20.72% of the company’s stock.

Microvast Company Profile

(Get Free Report)

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.

Further Reading

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