Key Points
- Microvast CTO Wenjuan Mattis sold 48,346 shares on May 18 at an average price of $1.32, worth about $63,817. The filing says the sale was made to cover tax withholding obligations tied to vested equity awards.
- After the transaction, Mattis still directly owned 932,678 shares, a position valued at about $1.23 million. The sale reduced her holdings by 4.93%.
- Microvast’s stock was up 4.2% in the article, but the company recently reported weak quarterly results, missing both earnings and revenue estimates. Analysts remain cautious, with the stock carrying an overall “Sell” rating.
Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) CTO Wenjuan Mattis sold 48,346 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $1.32, for a total value of $63,816.72. Following the completion of the transaction, the chief technology officer directly owned 932,678 shares of the company's stock, valued at $1,231,134.96. This represents a 4.93% decrease in their position. The sale was disclosed in a 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 Stock Up 4.2%
Shares of NASDAQ:MVST opened at $1.25 on Thursday. The firm has a market capitalization of $416.45 million, a P/E ratio of -3.91 and a beta of 3.60. The stock has a 50 day moving average price of $1.72 and a 200-day moving average price of $2.62. Microvast Holdings, Inc. has a 52-week low of $1.17 and a 52-week high of $7.12. 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 - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.04) EPS 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%. As a group, equities research analysts anticipate that Microvast Holdings, Inc. will post 0.01 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded Microvast from a "buy" rating to a "hold" rating in a research note on Saturday, March 21st. Weiss Ratings restated a "sell (d-)" rating on shares of Microvast in a research note on Friday, March 27th. Finally, Zacks Research downgraded Microvast from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 19th. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Sell".
Check Out Our Latest Report on MVST
Hedge Funds Weigh In On Microvast
A number of institutional investors and hedge funds have recently modified their holdings of MVST. Panagora Asset Management Inc. purchased a new position in shares of Microvast in the 4th quarter worth $30,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Microvast in the 3rd quarter worth $32,000. Steward Partners Investment Advisory LLC boosted its stake in shares of 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 buying an additional 11,250 shares during the last quarter. Cibc World Markets Corp purchased a new position in shares of Microvast in the 4th quarter worth $37,000. Finally, NewEdge Advisors LLC purchased a new position in Microvast during the third quarter valued at $38,000. 20.72% of the stock is currently owned by hedge funds and other institutional investors.
Microvast Company Profile
(
Get Free Report)
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.
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