Zacks Investment Research downgraded shares of Microvision (NASDAQ:MVIS) from a hold rating to a sell rating in a report released on Thursday morning.
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. “
Other analysts also recently issued research reports about the stock. S&P Equity Research upped their price target on shares of Microvision from $1.75 to $2.22 in a research report on Thursday, November 2nd. HC Wainwright reiterated a buy rating and issued a $3.50 price target on shares of Microvision in a research report on Thursday, September 14th. Finally, ValuEngine cut shares of Microvision from a hold rating to a sell rating in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $3.34.
Shares of Microvision (NASDAQ:MVIS) traded up $0.10 during trading hours on Thursday, hitting $1.78. 3,536,374 shares of the stock traded hands, compared to its average volume of 402,547. Microvision has a twelve month low of $1.15 and a twelve month high of $3.25.
Microvision (NASDAQ:MVIS) last released its quarterly earnings results on Thursday, November 2nd. The electronics maker reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). Microvision had a negative net margin of 193.59% and a negative return on equity of 335.81%. The firm had revenue of $6.09 million during the quarter, compared to the consensus estimate of $5.24 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. Microvision’s revenue for the quarter was up 52.3% on a year-over-year basis. research analysts expect that Microvision will post -0.3 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the business. State Treasurer State of Michigan lifted its holdings in Microvision by 8.2% in the 3rd quarter. State Treasurer State of Michigan now owns 3,144,199 shares of the electronics maker’s stock valued at $8,741,000 after purchasing an additional 238,095 shares in the last quarter. AWM Investment Company Inc. purchased a new position in shares of Microvision during the 2nd quarter worth about $13,997,000. California State Teachers Retirement System purchased a new position in shares of Microvision during the 2nd quarter worth about $256,000. State Street Corp lifted its holdings in shares of Microvision by 2,126.7% during the 2nd quarter. State Street Corp now owns 857,452 shares of the electronics maker’s stock worth $1,816,000 after acquiring an additional 818,945 shares during the period. Finally, Voya Investment Management LLC purchased a new position in shares of Microvision during the 2nd quarter worth about $101,000. Institutional investors own 30.62% of the company’s stock.
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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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