Microvision, Inc. (MVIS) Stock Rating Lowered by ValuEngine
Microvision, Inc. (NASDAQ:MVIS) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Thursday.
MVIS has been the subject of several other research reports. Northland Securities set a $3.00 price target on Microvision and gave the company a “buy” rating in a research note on Friday, August 4th. Zacks Investment Research cut Microvision from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. HC Wainwright set a $4.00 price target on Microvision and gave the company a “buy” rating in a research note on Friday, August 4th. Finally, S&P Equity Research boosted their price target on Microvision from $1.75 to $2.22 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Microvision presently has a consensus rating of “Hold” and an average target price of $3.24.
Microvision (NASDAQ:MVIS) last announced its quarterly earnings results on Tuesday, October 31st. The electronics maker reported ($0.07) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.07). The business had revenue of $6.09 million during the quarter, compared to analysts’ expectations of $5.24 million. Microvision had a negative return on equity of 677.56% and a negative net margin of 224.93%. The firm’s quarterly revenue was up 52.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) EPS.
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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AWM Investment Company Inc. acquired a new stake in Microvision in the 2nd quarter worth approximately $13,997,000. State Treasurer State of Michigan lifted its holdings in Microvision by 8.2% in the 3rd quarter. State Treasurer State of Michigan now owns 3,144,199 shares of the electronics maker’s stock worth $8,741,000 after purchasing an additional 238,095 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Microvision by 40.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,774,797 shares of the electronics maker’s stock worth $5,883,000 after purchasing an additional 793,102 shares during the last quarter. State Street Corp lifted its holdings in Microvision by 2,126.7% in the 2nd quarter. State Street Corp now owns 857,452 shares of the electronics maker’s stock worth $1,816,000 after purchasing an additional 818,945 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Microvision by 462.3% in the 2nd quarter. Northern Trust Corp now owns 777,714 shares of the electronics maker’s stock worth $1,648,000 after purchasing an additional 639,411 shares during the last quarter. Hedge funds and other institutional investors own 27.43% of the company’s stock.
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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