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

Microvast Holdings, Inc. (NASDAQ:MVST) CTO Wenjuan Mattis sold 48,346 shares of Microvast 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 transaction, the chief technology officer directly owned 932,678 shares in the company, valued at $1,231,134.96. This represents a 4.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Microvast Price Performance

Shares of MVST stock traded up $0.05 during mid-day trading on Wednesday, hitting $1.25. The company had a trading volume of 6,078,128 shares, compared to its average volume of 5,895,497. Microvast Holdings, Inc. has a 52-week low of $1.17 and a 52-week high of $7.12. The stock’s 50 day moving average price is $1.72 and its 200-day moving average price is $2.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.96 and a quick ratio of 0.74. The company has a market capitalization of $416.45 million, a P/E ratio of -3.91 and a beta of 3.60.

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

Institutional Investors Weigh In On Microvast

Several large investors have recently bought and sold shares of the business. Bank of America Corp DE increased its position in Microvast by 26.3% in the first quarter. Bank of America Corp DE now owns 454,004 shares of the company’s stock worth $681,000 after purchasing an additional 94,553 shares during the last quarter. Sei Investments Co. increased its position in Microvast by 217.6% in the first quarter. Sei Investments Co. now owns 65,894 shares of the company’s stock worth $99,000 after purchasing an additional 45,147 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Microvast by 125.3% in 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 during the last quarter. Swiss National Bank increased its position in Microvast by 2.9% in the first quarter. Swiss National Bank now owns 422,000 shares of the company’s stock worth $633,000 after purchasing an additional 11,900 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Microvast by 11.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 54,060 shares of the company’s stock worth $79,000 after purchasing an additional 5,547 shares during the last quarter. Institutional investors own 20.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on MVST shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Microvast in a report 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 downgraded shares of Microvast from a “hold” rating to a “strong sell” rating in a report on Thursday, March 19th. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

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.