Microvast Holdings announces departure of chief financial officer
Eileen Schloss, a director at CCC (WA:CCCP) Intelligent Solutions Holdings Inc. (NYSE:CCCS), a technology company with impressive 76.5% gross margins and a market capitalization of $5.6 billion, has sold 27,478 shares of the company’s common stock. The shares were sold at a price of $8.60 each, totaling $236,310. The transaction comes as the stock trades near its 52-week low of $8.43, with InvestingPro data showing the stock has declined 26.77% year-to-date. This transaction was executed automatically under a pre-established Rule 10b5-1 trading plan, which Schloss adopted on December 20, 2024. Following this sale, Schloss retains 26,569 shares in the company. According to InvestingPro, technical indicators suggest the stock is currently in oversold territory, with 13 additional real-time insights available for subscribers.
In other recent news, CCC Intelligent Solutions Holdings Inc. reported its fourth-quarter 2024 earnings, aligning with analyst expectations with an earnings per share (EPS) of $0.10 and slightly exceeding revenue forecasts with $246.5 million, marking an 8% year-over-year increase. The company also announced a secondary stock offering of 42 million shares by affiliates of Advent International, L.P., with plans to repurchase 7 million shares from underwriters using cash on hand. This stock offering is facilitated by a shelf registration statement effective since October 2022. Additionally, JPMorgan analysts downgraded CCC Intelligent Solutions’ stock rating from Overweight to Neutral, reducing the price target from $14 to $11, citing concerns about the company’s growth potential and market penetration. The company’s organic revenue growth guidance for fiscal year 2025 is approximately 7%, the slowest rate in four years, according to JPMorgan. Moreover, CCC Intelligent Solutions announced a board change with the resignation of Christopher Egan, a board member, effective March 28, 2025, without disclosing specific reasons. These developments reflect a dynamic period for the company as it navigates the competitive technology sector.
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