Microvision (NASDAQ:MVIS) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Microvision (NASDAQ:MVIS) released its quarterly earnings data on Wednesday. The electronics maker reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03), FiscalAI reports. The firm had revenue of $0.94 million during the quarter, compared to analyst estimates of $0.20 million. Microvision had a negative return on equity of 137.37% and a negative net margin of 7,862.67%.

Microvision Price Performance

MVIS traded up $0.06 on Wednesday, hitting $0.76. The company had a trading volume of 12,291,550 shares, compared to its average volume of 5,080,303. The stock has a market cap of $248.51 million, a price-to-earnings ratio of -2.17 and a beta of 1.21. The company’s fifty day moving average price is $0.64 and its 200 day moving average price is $0.82. Microvision has a 1-year low of $0.51 and a 1-year high of $1.73.

Institutional Trading of Microvision

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Microvision by 12.4% during the 3rd quarter. Vanguard Group Inc. now owns 20,830,421 shares of the electronics maker’s stock worth $25,830,000 after buying an additional 2,305,693 shares during the period. Geode Capital Management LLC raised its holdings in Microvision by 14.0% in the 4th quarter. Geode Capital Management LLC now owns 7,306,357 shares of the electronics maker’s stock worth $6,052,000 after acquiring an additional 896,423 shares during the period. XTX Topco Ltd lifted its position in Microvision by 40.1% during the 3rd quarter. XTX Topco Ltd now owns 1,291,980 shares of the electronics maker’s stock worth $1,602,000 after acquiring an additional 370,002 shares during the last quarter. Bank of America Corp DE boosted its holdings in Microvision by 130.2% during the third quarter. Bank of America Corp DE now owns 595,231 shares of the electronics maker’s stock valued at $738,000 after acquiring an additional 336,648 shares during the period. Finally, Brevan Howard Capital Management LP bought a new stake in Microvision during the second quarter valued at about $308,000. 30.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MVIS has been the subject of several recent research reports. D. Boral Capital downgraded shares of Microvision from a “buy” rating to a “hold” rating in a research report on Thursday, March 5th. Wall Street Zen lowered shares of Microvision from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 7th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $2.50.

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.