Microvast (NASDAQ:MVST – Get Free Report) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.
A number of other research analysts have also weighed in on MVST. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microvast in a report on Wednesday, June 24th. Wall Street Zen cut Microvast from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.
Check Out Our Latest Stock Report on Microvast
Microvast Trading Down 0.5%
Microvast (NASDAQ:MVST – Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). The company had revenue of $60.61 million during the quarter, compared to analyst estimates of $99.02 million. Microvast had a negative return on equity of 6.12% and a negative net margin of 11.52%.
Insider Buying and Selling
In other news, CTO Wenjuan Mattis sold 48,346 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $1.32, for a total value of $63,816.72. Following the transaction, the chief technology officer directly owned 932,678 shares of the company’s stock, valued at approximately $1,231,134.96. This represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Yang Wu sold 46,313 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $1.24, for a total transaction of $57,428.12. Following the completion of the sale, the chief executive officer directly owned 134,065,439 shares of the company’s stock, valued at $166,241,144.36. This represents a 0.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 105,767 shares of company stock worth $134,360 over the last ninety days. 44.80% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Microvast
Institutional investors have recently added to or reduced their stakes in the company. Panagora Asset Management Inc. acquired a new stake in shares of Microvast in the fourth quarter valued at approximately $30,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Microvast during the third quarter worth $32,000. Steward Partners Investment Advisory LLC increased its stake in Microvast by 727.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,796 shares of the company’s stock worth $36,000 after purchasing an additional 11,250 shares in the last quarter. Cibc World Markets Corp acquired a new position in Microvast in the 4th quarter worth $37,000. Finally, NewEdge Advisors LLC acquired a new position in Microvast during the 3rd quarter worth approximately $38,000. 20.72% of the stock is owned by institutional investors.
Microvast Company Profile
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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