Microvision (NASDAQ:MVIS) Announces Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Microvision (NASDAQ:MVIS) announced its quarterly earnings results on Wednesday. The electronics maker reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.07), FiscalAI reports. Microvision had a negative net margin of 3,354.08% and a negative return on equity of 131.03%. The company had revenue of $0.22 million for the quarter, compared to analysts’ expectations of $3.00 million.

Microvision Stock Performance

Microvision stock traded down $0.01 during trading on Wednesday, reaching $0.78. The company had a trading volume of 4,050,481 shares, compared to its average volume of 4,060,166. The firm has a market capitalization of $238.15 million, a PE ratio of -2.11 and a beta of 1.21. The firm’s 50-day simple moving average is $0.84 and its 200 day simple moving average is $1.01. Microvision has a 1-year low of $0.65 and a 1-year high of $1.73.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microvision in a research note on Monday, December 29th. D. Boral Capital restated a “buy” rating and set a $3.00 price target on shares of Microvision in a research report on Tuesday, January 27th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2.50.

Institutional Trading of Microvision

Several institutional investors have recently modified their holdings of MVIS. NewEdge Advisors LLC purchased a new stake in shares of Microvision during the first quarter worth about $56,000. Focus Partners Wealth acquired a new stake in Microvision in the 1st quarter worth about $32,000. JPMorgan Chase & Co. increased its stake in Microvision by 20.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 136,739 shares of the electronics maker’s stock worth $156,000 after buying an additional 22,824 shares in the last quarter. Rhumbline Advisers increased its stake in Microvision by 17.2% during the 2nd quarter. Rhumbline Advisers now owns 330,919 shares of the electronics maker’s stock worth $377,000 after buying an additional 48,588 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of Microvision by 77.4% during the second quarter. Prudential Financial Inc. now owns 30,520 shares of the electronics maker’s stock valued at $35,000 after acquiring an additional 13,315 shares during the last quarter. Institutional investors and hedge funds own 30.90% of the company’s stock.

Microvision Company Profile

MicroVision, Inc (NASDAQ: MVIS) is a technology company specializing in laser scanning and sensing solutions. Founded in 1993 and headquartered in Redmond, Washington, MicroVision develops its proprietary PicoP® scanning technology, which integrates miniature lasers and microelectromechanical systems (MEMS) mirrors to create high-resolution projection displays and three-dimensional sensing systems. Over the years, the company has built a portfolio of patents and intellectual property focused on precision optics and laser-based signal processing.

At the core of MicroVision’s offerings is its display platform, which enables compact, energy-efficient projection for augmented reality (AR) headsets, head-up displays (HUDs) in automotive environments, and consumer electronics applications such as pico projectors.