Microvast (NASDAQ:MVST) CEO Sells $57,428.12 in Stock

Microvast Holdings, Inc. (NASDAQ:MVST) CEO Yang Wu sold 46,313 shares of Microvast stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $1.24, for a total transaction of $57,428.12. Following the transaction, the chief executive officer 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Microvast Price Performance

MVST stock opened at $1.13 on Monday. The firm has a 50 day moving average price of $1.60 and a 200-day moving average price of $2.27. Microvast Holdings, Inc. has a 52-week low of $1.07 and a 52-week high of $7.12. The firm has a market capitalization of $376.47 million, a price-to-earnings ratio of -3.53 and a beta of 3.47. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 0.96.

Microvast (NASDAQ:MVST) last released 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). Microvast had a negative net margin of 11.52% and a negative return on equity of 6.12%. The business had revenue of $60.61 million for the quarter, compared to analysts’ expectations of $99.02 million.

Hedge Funds Weigh In On Microvast

A number of hedge funds have recently added to or reduced their stakes in MVST. Panagora Asset Management Inc. purchased a new position in Microvast in the 4th quarter worth approximately $30,000. Northwestern Mutual Wealth Management Co. purchased a new position in Microvast in the 3rd quarter worth approximately $32,000. Steward Partners Investment Advisory LLC raised its holdings in Microvast by 727.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,796 shares of the company’s stock worth $36,000 after acquiring an additional 11,250 shares during the last quarter. Cibc World Markets Corp purchased a new position in Microvast in the 4th quarter worth approximately $37,000. Finally, NewEdge Advisors LLC purchased a new position in Microvast in the 3rd quarter worth approximately $38,000. 20.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MVST has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Microvast in a report on Friday, March 27th. Wall Street Zen lowered shares of Microvast from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Finally, Zacks Research lowered shares of Microvast from a “hold” rating to a “strong sell” rating in a report on Thursday, March 19th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Microvast presently 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.