Microvision’s (MVIS) “Buy” Rating Reaffirmed at HC Wainwright
Microvision, Inc. (NASDAQ:MVIS)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report released on Thursday. They presently have a $3.50 price objective on the electronics maker’s stock. HC Wainwright’s price target points to a potential upside of 10.41% from the company’s current price.
MVIS has been the subject of a number of other reports. Zacks Investment Research raised Microvision from a “hold” rating to a “buy” rating and set a $2.75 price target for the company in a report on Wednesday, July 19th. ValuEngine raised Microvision from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, Northland Securities set a $3.00 price target on 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. Microvision presently has an average rating of “Buy” and an average price target of $3.44.
Microvision (NASDAQ:MVIS) opened at 3.17 on Thursday. The stock’s 50 day moving average price is $2.33 and its 200-day moving average price is $2.19. The stock’s market capitalization is $226.96 million. Microvision has a 12-month low of $0.89 and a 12-month high of $3.25.
Microvision (NASDAQ:MVIS) last released its quarterly earnings results on Thursday, August 3rd. The electronics maker reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.02. Microvision had a negative return on equity of 677.56% and a negative net margin of 224.93%. The company had revenue of $1.50 million during the quarter, compared to analysts’ expectations of $0.74 million. During the same period in the previous year, the firm posted ($0.07) earnings per share. The business’s revenue for the quarter was down 64.3% compared to the same quarter last year. Analysts expect that Microvision will post ($0.31) earnings per share for the current year.
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A number of institutional investors have recently added to or reduced their stakes in the stock. AWM Investment Company Inc. acquired a new position in Microvision in the second quarter valued at $13,997,000. Vanguard Group Inc. increased its stake in Microvision by 40.0% in the second quarter. Vanguard Group Inc. now owns 2,774,797 shares of the electronics maker’s stock valued at $5,883,000 after purchasing an additional 793,102 shares during the last quarter. State Street Corp increased its stake in Microvision by 2,126.7% in the second quarter. State Street Corp now owns 857,452 shares of the electronics maker’s stock valued at $1,816,000 after purchasing an additional 818,945 shares during the last quarter. Northern Trust Corp increased its stake in Microvision by 462.3% in the second quarter. Northern Trust Corp now owns 777,714 shares of the electronics maker’s stock valued at $1,648,000 after purchasing an additional 639,411 shares during the last quarter. Finally, EAM Investors LLC acquired a new position in Microvision in the first quarter valued at $1,301,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.
Microvision Company Profile
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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