Microvast (NASDAQ:MVST) Director Sells $34,764.96 in Stock

Microvast Holdings, Inc. (NASDAQ:MVST) Director Yixin Pan sold 12,596 shares of the business’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $2.76, for a total value of $34,764.96. Following the completion of the transaction, the director directly owned 130,739 shares of the company’s stock, valued at approximately $360,839.64. The trade was a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Microvast Trading Up 0.7%

NASDAQ MVST opened at $2.99 on Monday. Microvast Holdings, Inc. has a one year low of $1.09 and a one year high of $7.12. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.60. The firm has a market cap of $981.26 million, a P/E ratio of -5.54 and a beta of 3.37. The stock’s 50-day moving average is $3.33 and its 200-day moving average is $3.60.

Microvast (NASDAQ:MVST) last posted its earnings results on Monday, November 10th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Microvast had a positive return on equity of 11.34% and a negative net margin of 28.81%.The business had revenue of $123.29 million for the quarter, compared to the consensus estimate of $120.02 million. Sell-side analysts anticipate that Microvast Holdings, Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MVST shares. Zacks Research cut Microvast from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Microvast in a research note on Monday, December 29th. Finally, Wall Street Zen cut shares of Microvast from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 21st. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $3.00.

Institutional Investors Weigh In On Microvast

A number of institutional investors and hedge funds have recently made changes to their positions in MVST. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Microvast in the first quarter valued at $213,000. Millennium Management LLC raised its position in Microvast by 101.6% during the first quarter. Millennium Management LLC now owns 4,646,060 shares of the company’s stock worth $5,436,000 after acquiring an additional 2,341,637 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Microvast by 158.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,606,896 shares of the company’s stock valued at $1,880,000 after acquiring an additional 986,335 shares during the last quarter. Baader Bank Aktiengesellschaft grew its position in shares of Microvast by 175.8% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 104,458 shares of the company’s stock valued at $370,000 after acquiring an additional 66,578 shares during the period. Finally, Cookson Peirce & Co. Inc. acquired a new position in shares of Microvast during the 2nd quarter worth about $938,000. Institutional investors own 20.72% of the company’s stock.

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.