Chief Operating Officer Smith Shane acquired 250,000 shares of Microvast Holdings Inc. [MVST]

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Microvast Holdings Inc. shares valued at $625,000 were purchased by Smith Shane on Jun 14. At $2.50 per share, Smith Shane acquired 250,000 shares. The insider’s holdings grew to 250,000 shares worth approximately $0.75 million following the completion of this transaction.

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Also, Webster Craig purchased 287,000 shares, netting a total of over 737,590 in proceeds. Following the buying of shares at $2.57 each, the insider now holds 315,077 shares.

Before that, Webster Craig had added 13,000 shares to its account. In a trade valued at $37,830, the Chief Financial Officer bought Microvast Holdings Inc. shares for $2.91 each. Upon closing the transaction, the insider’s holdings increased to 13,000 shares, worth approximately $84511.76999999999.

As published in their initiating research note from Piper Sandler on December 17, 2021, Microvast Holdings Inc. [MVST] has been a Neutral and the price target has been revised to $8. This represents a 62.38% premium over Thursday’s closing price.

Analyzing MVST’s Price Performance

On Thursday, Microvast Holdings Inc. [NASDAQ: MVST] rose 3.44% to $3.01. The stock’s lowest price that day was $2.905, but it reached a high of $3.50 in the same session. During the last five days, there has been a surge of approximately 11.90%. Over the course of the year, Microvast Holdings Inc. shares have dropped approximately -46.82%. Shares of the company reached a 52-week high of $9.54 on 03/10/22 and a 52-week low of $2.00 on 07/25/22. A 50-day SMA is recorded $2.92, while a 200-day SMA reached $5.70. Nevertheless, trading volume fell to 2.2 million shares from 4.25 million shares the previous day.

Support And Resistance Levels for Microvast Holdings Inc. (MVST)

According to the 24-hour chart, there is a support level at 2.78, which, if violated, would cause prices to drop to 2.54. In the upper region, resistance lies at 3.37. The next price resistance is at 3.73. RSI (Relative Strength Index) is 61.60 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.53, which suggests the price will decrease in the coming days. Percent R is at 32.67%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Microvast Holdings Inc. subject to short interest?

Stocks of Microvast Holdings Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 2.73 million shares to 15.63 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 12.9 million shares. A jump of 17.47% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.23 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.23.

Which companies own the most shares of Microvast Holdings Inc. (MVST)?

According to Luxor Capital Group LP filings, the company currently owns 10,986,105 shares, which is about 3.63% of the total MVST shares outstanding. The investor’s shares have plunged by 0 from its previous 13-F filing of 10986105.0 shares. With the completion of the sale transaction, Koch Industries, Inc.’s stake is now worth $13,320,000. BlackRock Fund Advisors acquire a 0.15% interest valued at $7.87 million while The Vanguard Group, Inc. purchased a 29,932 stake. A total of -469,107 shares of Microvast Holdings Inc. were bought by Global X Management Co. LLC during the quarter, and 0 were sold by Owl Creek Asset Management LP. In its current portfolio, Geode Capital Management LLC holds 2,304,648 shares valued at $5.12 million.

In terms of Microvast Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $4.00 in the next 12 months, up nearly 37.46% from the previous closing price of $2.91. Analysts anticipate Microvast Holdings Inc. stock to reach $4.00 by 2022, with the lowest price target being $4.00. In spite of this, 1 analysts ranked Microvast Holdings Inc. stock as a Sell at the end of 2022.


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