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

Microvision, Inc. (NASDAQ:MVIS)’s stock is 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 market closes on Sunday, August 2nd.

Microvision Trading Down 2.1%

Shares of Microvision stock opened at $0.24 on Thursday. The firm has a market capitalization of $80.25 million, a PE ratio of -0.78 and a beta of 1.24. Microvision has a 12 month low of $0.23 and a 12 month high of $1.54. The business’s 50-day moving average price is $0.39 and its 200-day moving average price is $0.60.

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

Analyst Ratings Changes

Several research analysts have commented on the stock. Wall Street Zen raised shares of Microvision from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Microvision in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.50.

Institutional Investors Weigh In On Microvision

Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new position in Microvision during the 3rd quarter worth approximately $26,000. Focus Partners Wealth purchased a new position in Microvision in the 1st quarter worth approximately $32,000. BNP Paribas Financial Markets lifted its position in Microvision by 114.4% in the second quarter. BNP Paribas Financial Markets now owns 25,744 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 13,735 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in Microvision in the third quarter valued at approximately $33,000. Finally, Prudential Financial Inc. lifted its position in Microvision by 77.4% in the second 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. Institutional investors own 30.90% of the company’s stock.

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.