Microvision, Inc. (NASDAQ:MVIS) Short Interest Down 90.8% in August

Microvision, Inc. (NASDAQ:MVIS) saw a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 4,832,187 shares, a decrease of 90.8% from the July 30th total of 52,671,835 shares. Based on an average trading volume of 2,310,930 shares, the short-interest ratio is presently 2.1 days. Approximately 20.6% of the shares of the stock are sold short.

Hedge Funds Weigh In On Microvision

Several institutional investors and hedge funds have recently added to or reduced their stakes in MVIS. Russell Investments Group Ltd. purchased a new stake in shares of Microvision in the third quarter valued at $26,000. Royal Bank of Canada boosted its position in shares of Microvision by 97.6% in the first quarter. Royal Bank of Canada now owns 43,368 shares of the electronics maker’s stock worth $27,000 after buying an additional 21,423 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Microvision by 114.4% during the second quarter. BNP Paribas Financial Markets now owns 25,744 shares of the electronics maker’s stock valued at $29,000 after buying an additional 13,735 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of Microvision during the first quarter valued at $32,000. Finally, CIBC Bancorp USA Inc. acquired a new position in Microvision during the third quarter valued at $33,000. 30.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MVIS shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Microvision in a research note on Tuesday, June 2nd. Wall Street Zen raised Microvision to a “sell” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $37.50.

Microvision Trading Up 6.5%

Shares of MVIS traded up $0.11 during midday trading on Tuesday, hitting $1.81. The stock had a trading volume of 1,500,114 shares, compared to its average volume of 2,102,270. Microvision has a fifty-two week low of $1.65 and a fifty-two week high of $23.10. The business has a 50-day simple moving average of $4.19 and a two-hundred day simple moving average of $7.61. The firm has a market cap of $43.06 million, a P/E ratio of -0.33 and a beta of 1.27.

Microvision (NASDAQ:MVIS) last released its earnings results on Thursday, August 6th. The electronics maker reported ($1.66) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.91). Microvision had a negative return on equity of 221.31% and a negative net margin of 3,976.67%.The firm had revenue of $1.47 million during the quarter, compared to analysts’ expectations of $1.00 million.

About Microvision

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.