Short Interest in Microvision, Inc. (MVIS) Declines By 8.8%
Microvision, Inc. (NASDAQ:MVIS) saw a large drop in short interest in July. As of July 14th, there was short interest totalling 10,945,028 shares, a drop of 8.8% from the June 30th total of 11,997,203 shares. Currently, 16.2% of the company’s stock are sold short. Based on an average daily volume of 485,111 shares, the short-interest ratio is presently 22.6 days.
Large investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Microvision by 92.5% in the first quarter. Geode Capital Management LLC now owns 465,339 shares of the electronics maker’s stock valued at $1,158,000 after buying an additional 223,582 shares during the last quarter. Segantii Capital Management Ltd purchased a new stake in shares of Microvision during the first quarter valued at $116,000. EAM Investors LLC purchased a new stake in shares of Microvision during the first quarter valued at $1,301,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of 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 valued at $109,000 after buying an additional 5,283 shares during the last quarter. 30.85% of the stock is currently owned by institutional investors.
MVIS has been the topic of a number of recent research reports. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Microvision in a report on Tuesday, April 25th. Zacks Investment Research upgraded Microvision from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a report on Wednesday, July 19th. Finally, ValuEngine cut Microvision from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th.
Microvision (NASDAQ:MVIS) opened at 2.27 on Friday. The company has a 50 day moving average price of $2.16 and a 200-day moving average price of $1.99. The company’s market capitalization is $154.64 million. Microvision has a one year low of $0.89 and a one year high of $2.94.
Microvision (NASDAQ:MVIS) last issued its quarterly earnings results on Thursday, April 27th. The electronics maker reported ($0.08) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.01. The company had revenue of $0.79 million for the quarter, compared to analysts’ expectations of $1.09 million. Microvision had a negative return on equity of 880.81% and a negative net margin of 156.62%. The firm’s revenue for the quarter was down 78.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) earnings per share. Analysts expect that Microvision will post ($0.35) EPS for the current fiscal year.
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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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