Microvision (NASDAQ:MVIS) Stock Price Down 6.7% – Here’s Why

Microvision, Inc. (NASDAQ:MVIS)’s share price was down 6.7% during trading on Monday . The company traded as low as $3.62 and last traded at $3.7240. Approximately 250,542 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 462,367 shares. The stock had previously closed at $3.99.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MVIS shares. Wall Street Zen upgraded Microvision from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of Microvision in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Microvision currently has a consensus rating of “Hold” and a consensus price target of $37.50.

Microvision Stock Down 1.0%

The business has a 50 day simple moving average of $0.38 and a 200 day simple moving average of $0.59. The company has a market capitalization of $1.31 billion, a PE ratio of -12.68 and a beta of 1.27.

Microvision (NASDAQ:MVIS) last posted its quarterly earnings results on Wednesday, May 13th. The electronics maker reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.45). The company had revenue of $0.94 million during the quarter, compared to analysts’ expectations of $0.20 million. Microvision had a negative return on equity of 139.20% and a negative net margin of 5,887.77%.

Institutional Trading of Microvision

Hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. acquired a new stake in Microvision during the third quarter valued at $26,000. Royal Bank of Canada increased its stake in shares of Microvision by 97.6% in the 1st quarter. Royal Bank of Canada now owns 43,368 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 21,423 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Microvision by 114.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 25,744 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 13,735 shares in the last quarter. Focus Partners Wealth acquired a new position in Microvision in the 1st quarter worth about $32,000. Finally, CIBC Bancorp USA Inc. acquired a new position in Microvision in the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 30.90% of the company’s stock.

Microvision Company Profile

MicroVision, Inc (NASDAQ: MVIS) is a technology company specializing in laser scanning and sensing solutions. Founded in 1993 and headquartered in Redmond, Washington, MicroVision develops its proprietary PicoP® scanning technology, which integrates miniature lasers and microelectromechanical systems (MEMS) mirrors to create high-resolution projection displays and three-dimensional sensing systems. Over the years, the company has built a portfolio of patents and intellectual property focused on precision optics and laser-based signal processing.

At the core of MicroVision’s offerings is its display platform, which enables compact, energy-efficient projection for augmented reality (AR) headsets, head-up displays (HUDs) in automotive environments, and consumer electronics applications such as pico projectors.