Microvast (NASDAQ:MVST) Stock Price Up 19.2%

Microvast Holdings, Inc. (NASDAQ:MVSTGet Rating) shares shot up 19.2% during mid-day trading on Thursday . The company traded as high as $3.48 and last traded at $3.47. 42,077 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 2,191,821 shares. The stock had previously closed at $2.91.

Microvast Trading Down 9.3 %

The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.28 and a current ratio of 3.60. The company has a 50-day moving average of $2.86 and a 200-day moving average of $4.88.

Microvast (NASDAQ:MVSTGet Rating) last announced its earnings results on Monday, May 16th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.02. The firm had revenue of $36.67 million for the quarter, compared to the consensus estimate of $33.35 million. Sell-side analysts expect that Microvast Holdings, Inc. will post -0.65 earnings per share for the current year.

Insider Transactions at Microvast

In other Microvast news, CFO Craig Webster acquired 13,000 shares of the business’s stock in a transaction on Friday, June 10th. The stock was purchased at an average price of $2.91 per share, for a total transaction of $37,830.00. Following the transaction, the chief financial officer now owns 28,077 shares in the company, valued at approximately $81,704.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Yanzhuan Zheng sold 136,398 shares of the company’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $5.00, for a total value of $681,990.00. Following the transaction, the director now owns 1,983,009 shares of the company’s stock, valued at $9,915,045. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Craig Webster purchased 13,000 shares of Microvast stock in a transaction that occurred on Friday, June 10th. The shares were bought at an average cost of $2.91 per share, for a total transaction of $37,830.00. Following the transaction, the chief financial officer now directly owns 28,077 shares of the company’s stock, valued at $81,704.07. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 550,000 shares of company stock valued at $1,400,420. 31.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Microvast during the 4th quarter worth about $18,572,000. First Trust Advisors LP purchased a new position in Microvast in the 1st quarter valued at approximately $14,591,000. Crescent Park Management L.P. grew its position in shares of Microvast by 1.5% during the 1st quarter. Crescent Park Management L.P. now owns 1,521,903 shares of the company’s stock valued at $10,197,000 after purchasing an additional 21,903 shares in the last quarter. Darlington Partners Capital Management LP purchased a new position in Microvast in the fourth quarter worth $8,490,000. Finally, Alps Advisors Inc. bought a new stake in Microvast in the fourth quarter worth $7,669,000. 32.20% of the stock is currently owned by institutional investors.

Microvast Company Profile

(Get Rating)

Microvast Holdings, Inc designs, develops, and manufactures battery systems for electric vehicles and energy storage systems. The company offers a range of cell chemistries, such as lithium titanate oxide, lithium iron phosphate, and nickel manganese cobalt version 1 and 2.It also designs, develops, and manufactures battery components, such as cathode, anode, electrolyte, and separator.

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