Insider Selling: Microvast (NASDAQ:MVST) CEO Sells 46,313 Shares of Stock

Microvast Holdings, Inc. (NASDAQ:MVST) CEO Yang Wu sold 46,313 shares of Microvast stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $1.24, for a total transaction of $57,428.12. Following the sale, the chief executive officer directly owned 134,065,439 shares of the company’s stock, valued at $166,241,144.36. The trade was a 0.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Microvast Stock Performance

NASDAQ:MVST remained flat at $1.13 during mid-day trading on Friday. The company had a trading volume of 3,259,416 shares, compared to its average volume of 4,411,761. The stock has a market cap of $376.47 million, a PE ratio of -3.53 and a beta of 3.46. The stock’s fifty day moving average price is $1.60 and its 200-day moving average price is $2.29. 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 Holdings, Inc. has a 1-year low of $1.07 and a 1-year high of $7.12.

Microvast (NASDAQ:MVST) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.09). The firm had revenue of $60.61 million for 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%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its position in shares of 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. increased its stake in shares of Microvast by 73.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 14,644 shares of the company’s stock worth $41,000 after purchasing an additional 6,219 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Microvast by 18.2% in the fourth quarter. AQR Capital Management LLC now owns 57,110 shares of the company’s stock worth $160,000 after purchasing an additional 8,800 shares in the last quarter. NewEdge Advisors LLC purchased a new position in Microvast during the third quarter valued at approximately $38,000. Finally, Verition Fund Management LLC grew its stake in Microvast by 6.4% during the third quarter. Verition Fund Management LLC now owns 165,604 shares of the company’s stock valued at $638,000 after acquiring an additional 9,901 shares in the last quarter. 20.72% of the stock is owned by institutional investors.

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.