Microvision (NASDAQ:MVIS) Trading Down 12.8%

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Microvision, Inc. (NASDAQ:MVIS)’s stock price was down 12.8% during mid-day trading on Friday . The company traded as low as $0.66 and last traded at $0.75, approximately 2,191,756 shares were traded during mid-day trading. An increase of 389% from the average daily volume of 448,161 shares. The stock had previously closed at $0.86.

A number of research analysts have issued reports on MVIS shares. HC Wainwright restated a “buy” rating and issued a $3.50 price objective on shares of Microvision in a research note on Friday. Northland Securities restated a “hold” rating and issued a $27.00 price objective on shares of CEVA in a research note on Thursday, April 18th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Microvision presently has an average rating of “Buy” and an average price target of $2.17.

The firm has a market cap of $77.22 million, a PE ratio of -2.41 and a beta of 0.59. The company has a current ratio of 0.59, a quick ratio of 0.53 and a debt-to-equity ratio of 0.01. The stock’s 50 day simple moving average is $0.80.

Microvision (NASDAQ:MVIS) last issued its quarterly earnings results on Thursday, July 18th. The electronics maker reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). Microvision had a negative return on equity of 445.01% and a negative net margin of 163.21%. The firm had revenue of $1.24 million for the quarter, compared to analysts’ expectations of $4.70 million. During the same quarter in the prior year, the firm earned ($0.10) EPS. Sell-side analysts anticipate that Microvision, Inc. will post -0.22 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Spark Investment Management LLC lifted its position in shares of Microvision by 32.0% during the 1st quarter. Spark Investment Management LLC now owns 103,901 shares of the electronics maker’s stock valued at $100,000 after buying an additional 25,206 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Microvision by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 739,235 shares of the electronics maker’s stock valued at $446,000 after buying an additional 39,003 shares during the last quarter. BlackRock Inc. lifted its holdings in Microvision by 2.9% during the 4th quarter. BlackRock Inc. now owns 1,562,274 shares of the electronics maker’s stock worth $944,000 after purchasing an additional 44,634 shares in the last quarter. BSW Wealth Partners purchased a new stake in Microvision during the 1st quarter worth about $97,000. Finally, Taylor Frigon Capital Management LLC purchased a new stake in Microvision during the 2nd quarter worth about $935,000. 23.77% of the stock is currently owned by hedge funds and other institutional investors.

About Microvision (NASDAQ:MVIS)

MicroVision, Inc develops PicoP scanning technology to create high-resolution miniature projection, and three-dimensional sensing and image capture solutions in the United States and Asia. Its PicoP scanning technology includes micro-electrical mechanical systems, laser diodes, opto-mechanics, and electronics.

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