Zacks Investment Research downgraded shares of Microvision, Inc. (NASDAQ:MVIS) from a hold rating to a sell rating in a research note published on Friday.
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. “
MVIS has been the topic of several other research reports. Northland Securities set a $3.00 price objective on Microvision and gave the stock a buy rating in a research note on Friday, August 4th. S&P Equity Research raised their price objective on Microvision from $1.75 to $2.22 in a research note on Thursday, November 2nd. ValuEngine downgraded Microvision from a hold rating to a sell rating in a research note on Thursday, November 2nd. Finally, HC Wainwright set a $4.00 price objective on Microvision and gave the stock a buy rating in a research note on Friday, August 4th. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $3.24.
Shares of Microvision (NASDAQ:MVIS) traded up $0.04 during trading on Friday, reaching $1.64. The company had a trading volume of 565,500 shares, compared to its average volume of 748,318. Microvision has a twelve month low of $1.01 and a twelve month high of $3.25.
Microvision (NASDAQ:MVIS) last issued its quarterly earnings data on Thursday, November 2nd. The electronics maker reported ($0.07) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.07). The business had revenue of $6.09 million for the quarter, compared to the consensus estimate of $5.24 million. Microvision had a negative return on equity of 335.81% and a negative net margin of 193.59%. The firm’s revenue was up 52.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) EPS. analysts expect that Microvision will post -0.3 earnings per share for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in MVIS. Voya Investment Management LLC bought a new position in Microvision during the 2nd quarter worth about $101,000. Bank of New York Mellon Corp increased its holdings in Microvision by 13.7% during the 1st quarter. Bank of New York Mellon Corp now owns 43,935 shares of the electronics maker’s stock worth $109,000 after purchasing an additional 5,283 shares in the last quarter. Rhumbline Advisers bought a new position in Microvision during the 2nd quarter worth about $139,000. Schwab Charles Investment Management Inc. bought a new position in Microvision during the 2nd quarter worth about $250,000. Finally, California State Teachers Retirement System bought a new position in Microvision during the 2nd quarter worth about $256,000. Hedge funds and other institutional investors own 27.45% of the company’s stock.
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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