Microvision, Inc. (MVIS) Releases Earnings Results
Microvision, Inc. (NASDAQ:MVIS) posted its earnings results on Tuesday. The electronics maker reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07), Bloomberg Earnings reports. The firm had revenue of $6.09 million for the quarter, compared to analysts’ expectations of $5.24 million. Microvision had a negative net margin of 224.93% and a negative return on equity of 677.56%. The company’s revenue was up 52.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.08) earnings per share.
A number of brokerages have recently commented on MVIS. S&P Equity Research lifted their price target on shares of Microvision from $1.75 to $2.22 in a report on Thursday. ValuEngine upgraded shares of Microvision from a “sell” rating to a “hold” rating in a report on Friday, July 28th. HC Wainwright reiterated a “buy” rating and set a $3.50 price target on shares of Microvision in a report on Thursday, September 14th. Zacks Investment Research upgraded shares of Microvision from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a report on Tuesday, October 10th. Finally, Northland Securities set a $3.00 price target on shares of Microvision and gave the stock a “buy” rating in a report on Friday, August 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Microvision has a consensus rating of “Buy” and a consensus price target of $3.24.
A hedge fund recently bought a new stake in Microvision stock. California State Teachers Retirement System bought a new stake in shares of Microvision, Inc. (NASDAQ:MVIS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 120,900 shares of the electronics maker’s stock, valued at approximately $256,000. California State Teachers Retirement System owned about 0.17% of Microvision as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 27.43% of the company’s stock.
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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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