Microvision’s (MVIS) “Buy” Rating Reiterated at HC Wainwright
HC Wainwright reiterated their buy rating on shares of Microvision, Inc. (NASDAQ:MVIS) in a research report report published on Thursday. HC Wainwright currently has a $3.50 target price on the electronics maker’s stock.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Microvision from a hold rating to a buy rating and set a $2.75 price target for the company in a report on Wednesday, July 19th. Northland Securities set a $3.00 price target on Microvision and gave the stock a buy rating in a report on Friday, August 4th. Finally, ValuEngine upgraded Microvision from a sell rating to a hold rating in a report on Friday, June 30th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $3.44.
Shares of Microvision (MVIS) opened at 2.88 on Thursday. The firm’s market cap is $206.20 million. Microvision has a one year low of $0.89 and a one year high of $3.25. The company has a 50-day moving average of $2.39 and a 200 day moving average of $2.21.
Microvision (NASDAQ:MVIS) last released its quarterly earnings results on Thursday, August 3rd. The electronics maker reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.02. The firm had revenue of $1.50 million during the quarter, compared to analysts’ expectations of $0.74 million. Microvision had a negative return on equity of 677.56% and a negative net margin of 224.93%. Microvision’s quarterly revenue was down 64.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.07) EPS. On average, equities research analysts expect that Microvision will post ($0.29) EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AWM Investment Company Inc. acquired a new position in shares of Microvision in the 2nd quarter valued at approximately $13,997,000. State Street Corp raised its position in shares of Microvision by 2,126.7% in the 2nd quarter. State Street Corp now owns 857,452 shares of the electronics maker’s stock valued at $1,816,000 after purchasing an additional 818,945 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Microvision by 40.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,774,797 shares of the electronics maker’s stock valued at $5,883,000 after purchasing an additional 793,102 shares in the last quarter. Northern Trust Corp raised its position in shares of Microvision by 462.3% in the 2nd 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 in the last quarter. Finally, EAM Investors LLC acquired a new position in shares of Microvision in the 1st quarter valued at approximately $1,301,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.
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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