MicroVision (NASDAQ:MVIS) Trading Down 5%

MicroVision, Inc. (NASDAQ:MVIS)’s stock price fell 5% during mid-day trading on Friday . The company traded as low as $21.44 and last traded at $21.44. 35,803 shares changed hands during trading, a decline of 100% from the average session volume of 22,736,680 shares. The stock had previously closed at $22.58.

A number of brokerages recently issued reports on MVIS. Zacks Investment Research cut MicroVision from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 18th. HC Wainwright reissued a “neutral” rating on shares of MicroVision in a report on Monday, March 15th.

The stock’s fifty day simple moving average is $15.67. The stock has a market capitalization of $3.41 billion, a PE ratio of -225.80 and a beta of 3.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.51 and a quick ratio of 7.51.

MicroVision (NASDAQ:MVIS) last issued its quarterly earnings data on Thursday, April 29th. The electronics maker reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.02). MicroVision had a negative return on equity of 85.01% and a negative net margin of 711.00%. The business had revenue of $0.48 million during the quarter, compared to analysts’ expectations of $0.75 million. As a group, equities analysts anticipate that MicroVision, Inc. will post -0.17 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of MicroVision by 7.7% during the first quarter. BlackRock Inc. now owns 2,626,464 shares of the electronics maker’s stock worth $48,720,000 after purchasing an additional 188,223 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in MicroVision by 307.5% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,657,112 shares of the electronics maker’s stock valued at $30,739,000 after purchasing an additional 1,250,428 shares during the last quarter. Rafferty Asset Management LLC grew its stake in MicroVision by 592.6% in the 1st quarter. Rafferty Asset Management LLC now owns 1,625,038 shares of the electronics maker’s stock worth $30,144,000 after buying an additional 1,390,397 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of MicroVision by 15.2% in the 1st quarter. Geode Capital Management LLC now owns 1,297,666 shares of the electronics maker’s stock worth $24,071,000 after buying an additional 171,345 shares during the last quarter. Finally, Citigroup Inc. raised its position in shares of MicroVision by 220.3% during the 1st quarter. Citigroup Inc. now owns 580,731 shares of the electronics maker’s stock valued at $10,773,000 after buying an additional 399,444 shares in the last quarter. Hedge funds and other institutional investors own 18.48% of the company’s stock.

About MicroVision (NASDAQ:MVIS)

MicroVision, Inc develops lidar sensors used in automotive safety and autonomous driving applications. Its laser beam scanning technology is based on micro-electrical mechanical systems, laser diodes, opto-mechanics, electronics, algorithms and software. The company also develops micro-display concepts and designs for head-mounted augmented reality (AR) headsets, as well as 1440i MEMS module that can support AR headsets; Interactive Display modules used in smart speakers and other devices; and Consumer Lidar used in smart home systems.

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