Microvast (NASDAQ:MVST) CTO Wenjuan Mattis Sells 48,346 Shares

Microvast Holdings, Inc. (NASDAQ:MVST) CTO Wenjuan Mattis sold 48,346 shares of the business’s stock in a transaction that occurred 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 sale, the chief technology officer owned 932,678 shares of the company’s stock, valued at $1,231,134.96. This trade represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a document filed 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.

Microvast Stock Performance

NASDAQ MVST traded up $0.05 during trading hours on Wednesday, hitting $1.25. 6,078,128 shares of the company’s stock traded hands, compared to its average volume of 5,895,497. The business’s fifty day moving average price is $1.72 and its two-hundred day moving average price is $2.62. The company has a current ratio of 0.96, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $416.45 million, a P/E ratio of -3.91 and a beta of 3.60. Microvast Holdings, Inc. has a 52 week low of $1.17 and a 52 week high of $7.12.

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

Hedge Funds Weigh In On Microvast

Several large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in Microvast by 13.3% during the third quarter. SG Americas Securities LLC now owns 34,563 shares of the company’s stock valued at $133,000 after purchasing an additional 4,060 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Microvast by 11.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 54,060 shares of the company’s stock valued at $79,000 after purchasing an additional 5,547 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Microvast by 73.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 14,644 shares of the company’s stock valued at $41,000 after purchasing an additional 6,219 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Microvast by 18.2% during the fourth quarter. AQR Capital Management LLC now owns 57,110 shares of the company’s stock valued at $160,000 after purchasing an additional 8,800 shares in the last quarter. Finally, NewEdge Advisors LLC purchased a new position in Microvast during the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 20.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Microvast in a research report on Friday, March 27th. Zacks Research lowered shares of Microvast from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 19th. Finally, Wall Street Zen lowered shares of Microvast from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

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.