Key Points
- Microvast CEO Yang Wu sold 46,313 shares on June 9 at an average price of $1.24, totaling about $57,428. The filing said the sale was made to cover tax withholding obligations tied to vested equity awards.
- After the transaction, Wu still owned 134,065,439 shares, valued at roughly $166.2 million, and his stake fell by just 0.03%. This suggests the sale was small relative to his overall position.
- Microvast’s recent operating and market picture remains weak: the stock opened at $1.13, the company reported a quarterly EPS loss and revenue below expectations, and analysts currently rate the stock a Sell on average.
Microvast Holdings, Inc. (NASDAQ:MVST - Get Free Report) CEO Yang Wu sold 46,313 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $1.24, for a total value of $57,428.12. Following the completion of the sale, the chief executive officer owned 134,065,439 shares of the company's stock, valued at approximately $166,241,144.36. This trade represents a 0.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Microvast Stock Performance
Shares of Microvast stock opened at $1.13 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.96 and a debt-to-equity ratio of 0.06. The firm has a market cap of $376.47 million, a price-to-earnings ratio of -3.53 and a beta of 3.46. The business has a fifty day simple moving average of $1.60 and a 200-day simple moving average of $2.28. Microvast Holdings, Inc. has a fifty-two week low of $1.07 and a fifty-two week high of $7.12.
Microvast (NASDAQ:MVST - Get Free Report) last announced its quarterly earnings data 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 firm 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%.
Institutional Investors Weigh In On Microvast
Hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Microvast during the third quarter valued at $32,000. NewEdge Advisors LLC purchased a new stake in shares of Microvast during the third quarter valued at $38,000. Panagora Asset Management Inc. purchased a new stake in shares of Microvast during the fourth quarter valued at $30,000. Tidal Investments LLC purchased a new stake in shares of Microvast during the second quarter valued at $41,000. Finally, California State Teachers Retirement System purchased a new stake in shares of Microvast during the second quarter valued at $45,000. 20.72% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
MVST has been the subject of several research analyst reports. Zacks Research lowered Microvast from a "hold" rating to a "strong sell" rating in a report on Thursday, March 19th. Wall Street Zen downgraded Microvast from a "buy" rating to a "hold" rating in a 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 investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, Microvast presently has an average rating of "Sell".
View Our Latest Stock Analysis on MVST
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.
Further Reading
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