Microvision (NASDAQ:MVIS) Shares to Reverse Split on Monday, August 3rd

Shares of Microvision, Inc. (NASDAQ:MVIS) are set to reverse split on the morning of Monday, August 3rd. The 1-15 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, August 2nd.

Microvision Trading Down 8.6%

Shares of MVIS opened at $0.25 on Friday. The firm’s 50-day moving average is $0.41 and its two-hundred day moving average is $0.61. Microvision has a twelve month low of $0.25 and a twelve month high of $1.62. The firm has a market capitalization of $83.47 million, a P/E ratio of -0.81 and a beta of 1.24.

Microvision (NASDAQ:MVIS) last issued its earnings results on Wednesday, May 13th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). Microvision had a negative net margin of 5,887.77% and a negative return on equity of 139.20%. The company had revenue of $0.94 million during the quarter, compared to analysts’ expectations of $0.20 million.

Analysts Set New Price Targets

MVIS has been the topic of a number of research reports. Wall Street Zen upgraded Microvision from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Microvision in a report on Tuesday, June 2nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $2.50.

Institutional Trading of Microvision

Several institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC purchased a new stake in Microvision during the 1st quarter worth about $56,000. Focus Partners Wealth purchased a new position in Microvision in the 1st quarter valued at about $32,000. JPMorgan Chase & Co. lifted its holdings in Microvision by 20.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 136,739 shares of the electronics maker’s stock valued at $156,000 after purchasing an additional 22,824 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Microvision by 17.2% during the 2nd quarter. Rhumbline Advisers now owns 330,919 shares of the electronics maker’s stock worth $377,000 after purchasing an additional 48,588 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Microvision by 77.4% during the 2nd quarter. Prudential Financial Inc. now owns 30,520 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 13,315 shares during the last quarter. 30.90% of the stock is currently owned by hedge funds and other institutional investors.

Microvision Company Profile

MicroVision, Inc (NASDAQ: MVIS) is a technology company specializing in laser scanning and sensing solutions. Founded in 1993 and headquartered in Redmond, Washington, MicroVision develops its proprietary PicoP® scanning technology, which integrates miniature lasers and microelectromechanical systems (MEMS) mirrors to create high-resolution projection displays and three-dimensional sensing systems. Over the years, the company has built a portfolio of patents and intellectual property focused on precision optics and laser-based signal processing.

At the core of MicroVision’s offerings is its display platform, which enables compact, energy-efficient projection for augmented reality (AR) headsets, head-up displays (HUDs) in automotive environments, and consumer electronics applications such as pico projectors.