Zacks Investment Research upgraded shares of Microvision, Inc. (NASDAQ:MVIS) from a hold rating to a buy rating in a report released on Tuesday morning. The firm currently has $3.00 target price on the electronics maker’s stock.
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 reports about the company. ValuEngine upgraded Microvision from a sell rating to a hold rating in a research report on Friday, July 28th. HC Wainwright reiterated a buy rating and set a $3.50 target price on shares of Microvision in a research report on Thursday, September 14th. Finally, Northland Securities set a $3.00 target price on Microvision and gave the company a buy rating in a research report on Friday, August 4th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $3.50.
Microvision (NASDAQ MVIS) opened at 2.63 on Tuesday. Microvision has a 1-year low of $0.89 and a 1-year high of $3.25. The firm’s market capitalization is $188.30 million. The firm’s 50-day moving average price is $2.61 and its 200 day moving average price is $2.31.
Microvision (NASDAQ:MVIS) last released its earnings results on Thursday, August 3rd. The electronics maker reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The firm had revenue of $1.50 million during the quarter, compared to the consensus estimate of $0.74 million. Microvision had a negative return on equity of 677.56% and a negative net margin of 224.93%. The company’s revenue was down 64.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.07) EPS. On average, analysts predict that Microvision will post ($0.29) EPS for the current year.
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Several institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in shares of Microvision by 13.7% during the 1st 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 in the last quarter. Voya Investment Management LLC acquired a new position in shares of Microvision during the 2nd quarter worth $101,000. Rhumbline Advisers acquired a new position in shares of Microvision during the 2nd quarter worth $139,000. Schwab Charles Investment Management Inc. acquired a new position in shares of Microvision during the 2nd quarter worth $250,000. Finally, Teachers Advisors LLC acquired a new position in shares of Microvision during the 2nd quarter worth $256,000. 27.12% of the stock is owned by institutional investors.
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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