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Janney Downgrades Microvast Holdings Inc (MVST) to a Neutral from a Buy

Microvast Holdings Inc’s recently made public that its Director Zheng Yanzhuan unloaded Company’s shares for reported $1.3 million on Nov 14 ’23. In the deal valued at $1.30 per share,1,000,000 shares were sold. As a result of this transaction, Zheng Yanzhuan now holds 710,000 shares worth roughly $0.3 million.

Then, Zheng Yanzhuan sold 313,009 shares, generating $632,278 in total proceeds. Upon selling the shares at $2.02, the Director now owns 1,710,000 shares.

Before that, Webster Craig bought 13,000 shares. Microvast Holdings Inc shares valued at $21,320 were divested by the Chief Financial Officer at a price of $1.64 per share. As a result of the transaction, Webster Craig now holds 403,077 shares, worth roughly $0.17 million.

Janney downgraded its Microvast Holdings Inc [MVST] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Cantor Fitzgerald’s analysts, who began to cover the stock in late November with a ‘”an Overweight”‘ rating. Janney began covering MVST with “Buy” recommendation on August 31, 2023. H.C. Wainwright started covering the stock on April 03, 2023. It rated MVST as “a Buy”.

Price Performance Review of MVST

On Monday, Microvast Holdings Inc [NASDAQ:MVST] saw its stock jump 1.29% to $0.42. Over the last five days, the stock has lost -17.13%. Microvast Holdings Inc shares have fallen nearly -70.26% since the year began. Nevertheless, the stocks have fallen -60.72% over the past one year. While a 52-week high of $2.91 was reached on 01/02/24, a 52-week low of $0.32 was recorded on 04/25/24. SMA at 50 days reached $0.6520, while 200 days put it at $1.3361. A total of 1.43 million shares were traded, compared to the trading of 4.59 million shares in the previous session.

Levels Of Support And Resistance For MVST Stock

The 24-hour chart illustrates a support level at 0.4062, which if violated will result in even more drops to 0.3961. On the upside, there is a resistance level at 0.4313. A further resistance level may holdings at 0.4463. The Relative Strength Index (RSI) on the 14-day chart is 33.61, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0733, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 65.25%. Stochastics %K at 30.79% indicates the stock is a holding.

The most recent change occurred on August 19, 2022 when Oppenheimer began covering the stock and recommended ‘”an Outperform”‘ rating along with a $8 price target.

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