Zacks Investment Research downgraded shares of Microvision (NASDAQ:MVIS) from a hold rating to a sell rating in a report published 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. “
Several other brokerages have also commented on MVIS. HC Wainwright set a $4.00 price objective on Microvision and gave the stock a buy rating in a report on Thursday, November 16th. S&P Equity Research lifted their price objective on Microvision from $1.75 to $2.22 in a report on Thursday, November 2nd. Finally, ValuEngine lowered Microvision from a hold rating to a sell rating in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $3.34.
Shares of Microvision (MVIS) opened at $1.78 on Thursday. Microvision has a fifty-two week low of $1.15 and a fifty-two week high of $3.25. The company has a market capitalization of $139.90, a price-to-earnings ratio of -5.56 and a beta of -0.04.
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). Microvision had a negative return on equity of 335.81% and a negative net margin of 193.59%. The company had revenue of $6.09 million during the quarter, compared to analyst estimates of $5.24 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Microvision’s revenue was up 52.3% compared to the same quarter last year. equities analysts predict that Microvision will post -0.3 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Microvision by 40.0% in the second quarter. Vanguard Group Inc. now owns 2,774,797 shares of the electronics maker’s stock worth $5,883,000 after acquiring an additional 793,102 shares during the period. AWM Investment Company Inc. bought a new stake in Microvision during the second quarter valued at about $13,997,000. State Treasurer State of Michigan grew its holdings in Microvision by 8.2% during the third 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 during the period. Bank of New York Mellon Corp grew its holdings in Microvision by 416.2% during the second quarter. Bank of New York Mellon Corp now owns 226,812 shares of the electronics maker’s stock valued at $480,000 after purchasing an additional 182,877 shares during the period. Finally, Northern Trust Corp grew its holdings in Microvision by 462.3% during the second quarter. Northern Trust Corp now owns 777,714 shares of the electronics maker’s stock valued at $1,648,000 after purchasing an additional 639,411 shares during the period. 30.62% of the stock is owned by institutional investors.
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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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