Movella Holdings Inc. (NASDAQ:MVLA) CFO Stephen M. Smith Purchases 61,524 Shares

Movella Holdings Inc. (NASDAQ:MVLA – Get Rating) CFO Stephen M. Smith bought 61,524 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was purchased at an average price of $1.65 per share, for a total transaction of $101,514.60. Following the purchase, the chief financial officer now directly owns 100,000 shares in the company, valued at approximately $165,000. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Movella Trading Up 1.8 %

Shares of Movella stock opened at $2.31 on Friday. Movella Holdings Inc. has a 12-month low of $1.25 and a 12-month high of $10.76. The company has a current ratio of 5.43, a quick ratio of 4.98 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $1.50.

Movella (NASDAQ:MVLA – Get Rating) last announced its quarterly earnings data on Friday, March 31st. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.24). The firm had revenue of $12.12 million during the quarter, compared to the consensus estimate of $12.20 million. On average, equities research analysts expect that Movella Holdings Inc. will post -0.12 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on MVLA. Stifel Nicolaus cut their target price on Movella from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, April 4th. Northland Securities initiated coverage on Movella in a research note on Tuesday. They set an “outperform” rating on the stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Frank Rimerman Advisors LLC acquired a new position in shares of Movella during the 1st quarter worth approximately $88,000. Two Sigma Securities LLC acquired a new position in shares of Movella during the 1st quarter worth approximately $36,000. Alpha Wave Global LP acquired a new position in shares of Movella during the 1st quarter worth approximately $2,322,000. KPCB XIII Associates LLC acquired a new position in shares of Movella during the 1st quarter worth approximately $7,057,000. Finally, Gabelli Funds LLC acquired a new position in shares of Movella during the 1st quarter worth approximately $34,000. 77.81% of the stock is owned by institutional investors and hedge funds.

About Movella

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Pathfinder Acquisition Corporation is a blank check company. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or related business combination with one or more businesses. Pathfinder Acquisition Corporation is based in Palo Alto, California.