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 sale, the chief executive officer owned 134,065,439 shares of the company’s stock, valued at approximately $166,241,144.36. The trade was a 0.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Microvast Stock Performance

Shares of MVST remained flat at $1.13 during mid-day trading on Friday. 3,259,416 shares of the stock were exchanged, compared to its average volume of 4,411,761. The firm has a market capitalization of $376.47 million, a PE ratio of -3.53 and a beta of 3.46. 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 Holdings, Inc. has a 1 year low of $1.07 and a 1 year high of $7.12. The stock’s 50 day moving average price is $1.60 and its two-hundred day moving average price is $2.29.

Microvast (NASDAQ:MVST) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.09). The business had revenue of $60.61 million during the quarter, compared to the consensus estimate of $99.02 million. Microvast had a negative return on equity of 6.12% and a negative net margin of 11.52%.

Institutional Investors Weigh In On Microvast

A number of institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Microvast in the first quarter valued at $213,000. Millennium Management LLC lifted its position in shares of Microvast by 101.6% during the first quarter. Millennium Management LLC now owns 4,646,060 shares of the company’s stock worth $5,436,000 after purchasing an additional 2,341,637 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Microvast by 158.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,606,896 shares of the company’s stock valued at $1,880,000 after acquiring an additional 986,335 shares in the last quarter. Legal & General Group Plc bought a new position in Microvast in the second quarter worth about $1,006,000. Finally, Rhumbline Advisers purchased a new stake in shares of Microvast during the second quarter worth about $1,046,000. 20.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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