MicroVision Inc. (NASDAQ:MVIS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
According to Zacks, “Microvision, Inc. develops information display and related technologies that allow electronically generated images and information to be projected onto a viewer’s eye. They defined three distinct business platforms relating to the delivery of images and information in this manner: Retinal Scanning Displays, Imaging Solutions, Optical Material technology. “
Separately, Aegis started coverage on shares of MicroVision in a report on Monday, August 8th. They issued a “buy” rating and a $2.90 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $3.30.
MicroVision (NASDAQ:MVIS) remained flat at $1.63 during trading on Tuesday. The company’s stock had a trading volume of 154,114 shares. The firm’s market capitalization is $87.93 million. The firm has a 50-day moving average price of $1.23 and a 200-day moving average price of $1.55. MicroVision has a 1-year low of $0.89 and a 1-year high of $3.08.
MicroVision (NASDAQ:MVIS) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.01. MicroVision had a negative return on equity of 4,079.47% and a negative net margin of 112.39%. The firm earned $4 million during the quarter, compared to analysts’ expectations of $3.23 million. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. MicroVision’s revenue was up 66.8% on a year-over-year basis. On average, equities analysts expect that MicroVision will post ($0.30) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of MVIS. Princeton Capital Management Inc. increased its position in shares of MicroVision by 5.6% in the second quarter. Princeton Capital Management Inc. now owns 88,277 shares of the company’s stock valued at $148,000 after buying an additional 4,700 shares in the last quarter. Carl Domino Inc increased its position in MicroVision by 10.7% in the second quarter. Carl Domino Inc now owns 103,400 shares of the company’s stock valued at $174,000 after buying an additional 10,000 shares during the period. BlackRock Fund Advisors increased its position in MicroVision by 24.3% in the second quarter. BlackRock Fund Advisors now owns 140,178 shares of the company’s stock valued at $235,000 after buying an additional 27,437 shares during the period. Finally, Vanguard Group Inc. increased its position in MicroVision by 9.3% in the second quarter. Vanguard Group Inc. now owns 1,649,069 shares of the company’s stock valued at $2,770,000 after buying an additional 140,505 shares during the period. 14.84% of the stock is owned by institutional investors.
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.