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

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

Microvast Trading Up 4.2%

Shares of MVST stock opened at $1.25 on Thursday. The stock has a market capitalization of $416.45 million, a PE ratio of -3.91 and a beta of 3.60. Microvast Holdings, Inc. has a 1-year low of $1.17 and a 1-year high of $7.12. The business has a 50-day moving average of $1.72 and a 200 day moving average of $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.

Microvast (NASDAQ:MVST) last issued its 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 company had revenue of $60.61 million for the quarter, compared to analysts’ expectations 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 anticipate that Microvast Holdings, Inc. will post 0.01 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Bank of America Corp DE raised its position in shares of Microvast by 26.3% in the 1st quarter. Bank of America Corp DE now owns 454,004 shares of the company’s stock worth $681,000 after acquiring an additional 94,553 shares in the last quarter. Sei Investments Co. raised its position in shares of Microvast by 217.6% in the 1st quarter. Sei Investments Co. now owns 65,894 shares of the company’s stock worth $99,000 after acquiring an additional 45,147 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Microvast by 125.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,363,006 shares of the company’s stock worth $3,542,000 after acquiring an additional 1,314,060 shares in the last quarter. Swiss National Bank raised its position in shares of Microvast by 2.9% in the 1st quarter. Swiss National Bank now owns 422,000 shares of the company’s stock worth $633,000 after acquiring an additional 11,900 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Microvast by 11.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 54,060 shares of the company’s stock worth $79,000 after acquiring an additional 5,547 shares in the last quarter. Institutional investors own 20.72% of the company’s stock.

Wall Street Analyst Weigh In

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