Microvision, Inc. (MVIS) Trading Up 5.2%
Microvision, Inc. (NASDAQ:MVIS)’s share price was up 5.2% during mid-day trading on Wednesday . The stock traded as high as $2.45 and last traded at $2.42. Approximately 1,457,419 shares traded hands during mid-day trading, an increase of 100% from the average daily volume of 730,159 shares. The stock had previously closed at $2.30.
Several equities analysts have recently issued reports on MVIS shares. HC Wainwright set a $4.00 price objective on Microvision and gave the company a “buy” rating in a report on Friday, August 4th. Zacks Investment Research raised Microvision from a “hold” rating to a “buy” rating and set a $2.75 price objective for the company in a report on Wednesday, July 19th. ValuEngine raised Microvision from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, Northland Securities set a $3.00 price objective on Microvision and gave the company a “buy” rating in a report on Friday, August 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Microvision currently has an average rating of “Buy” and a consensus target price of $3.56.
The company’s market capitalization is $201.18 million. The stock’s 50-day moving average is $2.27 and its 200 day moving average is $2.16.
Microvision (NASDAQ:MVIS) last released its quarterly earnings results on Thursday, August 3rd. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.02. Microvision had a negative return on equity of 677.56% and a negative net margin of 224.93%. The firm had revenue of $1.50 million for the quarter, compared to analyst estimates of $0.74 million. During the same quarter last year, the company posted ($0.07) earnings per share. The business’s revenue was down 64.3% on a year-over-year basis. Equities analysts expect that Microvision, Inc. will post ($0.31) earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AWM Investment Company Inc. purchased a new position in shares of Microvision during the second quarter worth about $13,997,000. Vanguard Group Inc. grew its holdings in shares of Microvision by 40.0% during the second quarter. Vanguard Group Inc. now owns 2,774,797 shares of the electronics maker’s stock worth $5,883,000 after buying an additional 793,102 shares during the last quarter. State Street Corp grew its holdings in shares of Microvision by 2,126.7% during the second quarter. State Street Corp now owns 857,452 shares of the electronics maker’s stock worth $1,816,000 after buying an additional 818,945 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Microvision by 462.3% during the second quarter. Northern Trust Corp now owns 777,714 shares of the electronics maker’s stock worth $1,648,000 after buying an additional 639,411 shares during the last quarter. Finally, EAM Investors LLC purchased a new position in shares of Microvision during the first quarter worth about $1,301,000. 27.12% of the stock is currently owned by hedge funds and other institutional investors.
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Microvision Company Profile
Microvision, Inc is a developer of laser beam scanning (LBS) technology. The Company markets its technology under the brand name, PicoP. It has developed PicoP scanning technology that can be adopted by its customers to create high-resolution miniature projection, and three-dimensional sensing and image capture solutions that use laser diodes as the light source.
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