Microvision Sees Unusually High Options Volume (NASDAQ:MVIS)

Microvision, Inc. (NASDAQ:MVIS) was the recipient of some unusual options trading on Wednesday. Stock investors bought 8,334 call options on the company. This is an increase of 61% compared to the average volume of 5,175 call options.

Hedge Funds Weigh In On Microvision

A number of hedge funds have recently made changes to their positions in MVIS. 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 during the last quarter. Focus Partners Wealth bought a new position in Microvision in the 1st quarter valued at about $32,000. Prudential Financial Inc. boosted its stake in Microvision by 77.4% during the 2nd quarter. Prudential Financial Inc. now owns 30,520 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 13,315 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Microvision during the 2nd quarter worth approximately $38,000. Finally, Fiscal Wisdom Wealth Management LLC bought a new stake in Microvision during the 3rd quarter worth approximately $44,000. 30.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on MVIS. Westpark Capital reiterated a “buy” rating and issued a $2.00 price target on shares of Microvision in a research note on Tuesday, October 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Microvision in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Microvision from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, D. Boral Capital reiterated a “buy” rating and set a $3.00 price objective on shares of Microvision in a research note on Tuesday, September 2nd. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $2.50.

Microvision Price Performance

MVIS stock traded down $0.15 during midday trading on Wednesday, reaching $0.92. 13,607,717 shares of the stock were exchanged, compared to its average volume of 6,147,189. Microvision has a 52 week low of $0.80 and a 52 week high of $1.95. The company has a fifty day moving average price of $1.22 and a 200 day moving average price of $1.18. The stock has a market capitalization of $278.09 million, a PE ratio of -2.36 and a beta of 1.67.

Microvision (NASDAQ:MVIS) last issued its quarterly earnings data on Tuesday, November 11th. The electronics maker reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. Microvision had a negative net margin of 3,470.59% and a negative return on equity of 146.46%. The business had revenue of $0.24 million during the quarter, compared to analyst estimates of $0.23 million.

Microvision Company Profile

MicroVision, Inc develops and sells lidar sensors and software used in automotive safety and autonomous driving applications. It offers a suite of light detection and ranging (lidar) sensors and perception; and validation software for automotive OEMs, advanced driver-assistance systems, and autonomous vehicle applications, as well as non-automotive applications including industrial, robotics, and smart infrastructure.