Microvision, Inc. (MVIS) Given a $4.00 Price Target at HC Wainwright
Microvision, Inc. (NASDAQ:MVIS) has been assigned a $4.00 price target by equities researchers at HC Wainwright in a report issued on Friday. The firm currently has a “buy” rating on the electronics maker’s stock. HC Wainwright’s price target points to a potential upside of 61.94% from the stock’s previous close.
A number of other research analysts also recently weighed in on the stock. ValuEngine upgraded shares of Microvision from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Zacks Investment Research upgraded shares of Microvision from a “hold” rating to a “buy” rating and set a $2.75 price objective on the stock in a research report on Wednesday, July 19th. Finally, Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Microvision in a research report on Tuesday, April 25th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $3.43.
Shares of Microvision (NASDAQ MVIS) traded up 0.82% during midday trading on Friday, hitting $2.47. 624,778 shares of the stock traded hands. Microvision has a 52 week low of $0.89 and a 52 week high of $2.94. The firm’s market capitalization is $168.26 million. The company’s 50-day moving average is $2.20 and its 200 day moving average is $2.02.
Microvision (NASDAQ:MVIS) last issued its quarterly earnings data on Thursday, August 3rd. The electronics maker reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.02. The company had revenue of $1.50 million for the quarter, compared to the consensus estimate of $0.74 million. Microvision had a negative net margin of 224.93% and a negative return on equity of 741.21%. The firm’s revenue for the quarter was down 64.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. Analysts anticipate that Microvision will post ($0.35) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of MVIS. Bank of New York Mellon Corp increased its position in shares of Microvision by 416.2% in the second quarter. Bank of New York Mellon Corp now owns 226,812 shares of the electronics maker’s stock worth $480,000 after buying an additional 182,877 shares during the period. Rhumbline Advisers bought a new position in shares of Microvision during the second quarter worth $139,000. Schwab Charles Investment Management Inc. bought a new position in shares of Microvision during the second quarter worth $250,000. Geode Capital Management LLC increased its position 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 worth $1,158,000 after buying an additional 223,582 shares during the period. Finally, Segantii Capital Management Ltd bought a new position in shares of Microvision during the first quarter worth $116,000. Institutional investors own 30.85% of the company’s stock.
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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