HC Wainwright Reiterates “Buy” Rating for Microvision, Inc. (MVIS)
Microvision, Inc. (NASDAQ:MVIS)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a report issued on Thursday. They currently have a $3.50 target price on the electronics maker’s stock. HC Wainwright’s price target points to a potential upside of 10.41% from the stock’s current price.
Other equities research analysts also recently issued research reports about the stock. ValuEngine upgraded shares of Microvision from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Zacks Investment Research downgraded shares of Microvision from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, Northland Securities set a $3.00 price target on shares of Microvision and gave the stock a “buy” rating in a research note on Friday, August 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Microvision has a consensus rating of “Buy” and an average price target of $3.44.
Shares of Microvision (MVIS) opened at 3.17 on Thursday. The company has a 50 day moving average of $2.33 and a 200-day moving average of $2.19. The firm’s market cap is $226.96 million. Microvision has a 12-month low of $0.89 and a 12-month high of $3.25.
Microvision (NASDAQ:MVIS) last posted its quarterly earnings results on Thursday, August 3rd. The electronics maker reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.02. Microvision had a negative net margin of 224.93% and a negative return on equity of 677.56%. The firm had revenue of $1.50 million for the quarter, compared to the consensus estimate of $0.74 million. During the same quarter in the previous year, the company earned ($0.07) earnings per share. The business’s revenue was down 64.3% compared to the same quarter last year. Equities research analysts forecast that Microvision will post ($0.31) EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the business. Voya Investment Management LLC bought a new position in shares of Microvision during the second quarter valued at $101,000. Bank of New York Mellon Corp lifted its holdings in shares of Microvision by 13.7% during 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 acquiring an additional 5,283 shares during the period. Segantii Capital Management Ltd bought a new position in shares of Microvision during the first quarter valued at $116,000. Rhumbline Advisers bought a new position in shares of Microvision during the second quarter valued at $139,000. Finally, Schwab Charles Investment Management Inc. bought a new position in shares of Microvision during the second quarter valued at $250,000. 27.12% of the stock is owned by institutional investors.
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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