Zacks Investment Research cut shares of Microvision, Inc. (NASDAQ:MVIS) from a hold rating to a sell rating in a research note issued to investors 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. “

Several other brokerages have also recently commented on MVIS. Northland Securities set a $3.00 target price on Microvision and gave the stock a buy rating in a report on Friday, August 4th. ValuEngine upgraded shares of Microvision from a sell rating to a hold rating in a research report on Friday, July 28th. HC Wainwright restated a buy rating and issued a $3.50 price target on shares of Microvision in a research report on Thursday, September 14th. Finally, S&P Equity Research lifted their price target on shares of Microvision from $1.75 to $2.22 in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. Microvision has a consensus rating of Hold and an average price target of $3.24.

Shares of Microvision (MVIS) opened at $1.57 on Friday. Microvision has a twelve month low of $1.01 and a twelve month high of $3.25.

Microvision (NASDAQ:MVIS) last announced its earnings results 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 firm had revenue of $6.09 million for the quarter, compared to analysts’ expectations of $5.24 million. During the same quarter in the previous year, the company earned ($0.08) earnings per share. The firm’s quarterly revenue was up 52.3% compared to the same quarter last year. sell-side analysts anticipate that Microvision will post -0.3 EPS for the current year.

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A number of institutional investors have recently bought and sold shares of MVIS. Bank of New York Mellon Corp grew its position in Microvision by 13.7% in the first quarter. Bank of New York Mellon Corp now owns 43,935 shares of the electronics maker’s stock worth $109,000 after buying an additional 5,283 shares during the last quarter. Geode Capital Management LLC grew its position in Microvision by 92.5% in the first quarter. Geode Capital Management LLC now owns 465,339 shares of the electronics maker’s stock worth $1,158,000 after buying an additional 223,582 shares during the last quarter. Schwab Charles Investment Management Inc. acquired a new position in Microvision in the second quarter worth approximately $250,000. Rhumbline Advisers acquired a new position in Microvision in the second quarter worth approximately $139,000. Finally, Teachers Advisors LLC acquired a new position in Microvision in the second quarter worth approximately $256,000. Hedge funds and other institutional investors own 26.73% of the company’s stock.

About Microvision

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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