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

Microvast Holdings, Inc. (NASDAQ:MVST) CTO Wenjuan Mattis sold 48,346 shares of Microvast stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $1.32, for a total value of $63,816.72. Following the completion of the sale, the chief technology officer directly owned 932,678 shares in the company, valued at approximately $1,231,134.96. This represents a 4.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Microvast Price Performance

NASDAQ:MVST opened at $1.38 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 0.96. The stock’s 50-day simple moving average is $1.71 and its 200 day simple moving average is $2.60. The company has a market cap of $459.76 million, a P/E ratio of -4.31 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 released its earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.09). The company had revenue of $60.61 million during the quarter, compared to analyst estimates of $99.02 million. Microvast had a negative net margin of 11.52% and a negative return on equity of 6.12%. As a group, sell-side analysts forecast that Microvast Holdings, Inc. will post 0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Microvast

Several hedge funds have recently bought and sold shares of MVST. Millennium Management LLC lifted its stake in Microvast by 101.6% in the 1st quarter. Millennium Management LLC now owns 4,646,060 shares of the company’s stock valued at $5,436,000 after purchasing an additional 2,341,637 shares during the last quarter. First Trust Advisors LP lifted its stake in Microvast by 4,632.7% in the 4th quarter. First Trust Advisors LP now owns 2,088,304 shares of the company’s stock valued at $5,847,000 after purchasing an additional 2,044,179 shares during the last quarter. Vanguard Group Inc. lifted its stake in Microvast by 14.6% in the 3rd quarter. Vanguard Group Inc. now owns 12,010,655 shares of the company’s stock valued at $46,241,000 after purchasing an additional 1,533,708 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Microvast by 125.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,363,006 shares of the company’s stock valued at $3,542,000 after purchasing an additional 1,314,060 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Microvast by 349.0% in the 2nd quarter. Bank of America Corp DE now owns 1,636,970 shares of the company’s stock valued at $5,942,000 after purchasing an additional 1,272,420 shares during the last quarter. 20.72% of the stock is currently owned by institutional investors and hedge funds.

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.