Microvast (NASDAQ:MVST) CEO Yang Wu Sells 46,313 Shares of Stock

Microvast Holdings, Inc. (NASDAQ:MVST) CEO Yang Wu sold 46,313 shares of the business’s stock in a transaction that occurred 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 $166,241,144.36. This trade represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Microvast Price Performance

Shares of NASDAQ MVST opened at $1.13 on Friday. The company has a market capitalization of $376.47 million, a price-to-earnings ratio of -3.53 and a beta of 3.46. The business has a 50 day simple moving average of $1.60 and a 200-day simple moving average of $2.28. The company has a current ratio of 0.96, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. Microvast Holdings, Inc. has a twelve month low of $1.07 and a twelve month high of $7.12.

Microvast (NASDAQ:MVST) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.09). The company had revenue of $60.61 million for 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 Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MVST. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Microvast in the first quarter worth $213,000. Millennium Management LLC grew its stake in shares of Microvast by 101.6% in 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 in the last quarter. Goldman Sachs Group Inc. grew its stake 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 worth $1,880,000 after purchasing an additional 986,335 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Microvast in the second quarter worth $1,006,000. Finally, Rhumbline Advisers bought a new position in shares of Microvast in the second quarter worth $1,046,000. Institutional investors own 20.72% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Microvast

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.