$13.75 Million in Sales Expected for Microvision, Inc. (MVIS) This Quarter
Wall Street brokerages forecast that Microvision, Inc. (NASDAQ:MVIS) will post $13.75 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Microvision’s earnings, with estimates ranging from $12.00 million to $15.50 million. Microvision posted sales of $6.09 million in the same quarter last year, which would indicate a positive year over year growth rate of 125.8%. The company is scheduled to report its next earnings results on Thursday, November 1st.
According to Zacks, analysts expect that Microvision will report full year sales of $23.10 million for the current year, with estimates ranging from $21.00 million to $25.20 million. For the next year, analysts expect that the firm will report sales of $34.25 million per share, with estimates ranging from $26.50 million to $42.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Microvision.
Microvision (NASDAQ:MVIS) last posted its earnings results on Tuesday, July 31st. The electronics maker reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01). Microvision had a negative return on equity of 356.21% and a negative net margin of 223.33%. The firm had revenue of $2.01 million for the quarter, compared to analyst estimates of $2.87 million. During the same quarter last year, the firm posted ($0.08) EPS.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG grew its holdings in shares of Microvision by 151.9% during the fourth quarter. Deutsche Bank AG now owns 173,821 shares of the electronics maker’s stock worth $282,000 after buying an additional 104,816 shares during the last quarter. Perkins Capital Management Inc. purchased a new position in shares of Microvision during the second quarter worth about $224,000. Rational Advisors LLC purchased a new position in shares of Microvision during the second quarter worth about $224,000. LMR Partners LLP purchased a new position in shares of Microvision during the second quarter worth about $235,000. Finally, Paloma Partners Management Co purchased a new position in shares of Microvision during the second quarter worth about $429,000. 25.11% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ MVIS traded down $0.02 during midday trading on Thursday, reaching $0.99. 694,000 shares of the company were exchanged, compared to its average volume of 707,697. Microvision has a 1 year low of $0.89 and a 1 year high of $3.25. The firm has a market cap of $95.87 million, a P/E ratio of -2.97 and a beta of -0.34.
MicroVision, Inc develops PicoP scanning technology that provides high-resolution miniature projection, and three-dimensional sensing and image capture solutions in the United States. Its PicoP scanning technology comprises micro-electrical mechanical systems, laser diodes, opto-mechanics, and electronics.
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