S&P Equity Research Raises Microvision, Inc. (MVIS) Price Target to $2.22
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Microvision from a hold rating to a buy rating and set a $2.75 price target on the stock in a report on Wednesday, July 19th. HC Wainwright set a $4.00 price target on shares of Microvision and gave the stock a buy rating in a report on Friday, August 4th. 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. Finally, ValuEngine raised shares of Microvision from a sell rating to a hold rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $3.24.
Microvision (NASDAQ:MVIS) traded down $0.09 during trading hours on Thursday, hitting $1.57. 2,171,636 shares of the company were exchanged, compared to its average volume of 566,335. Microvision has a 52 week low of $1.01 and a 52 week high of $3.25.
Microvision (NASDAQ:MVIS) last posted its quarterly earnings results on Thursday, November 2nd. The electronics maker reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). The company had revenue of $6.09 million for the quarter, compared to analysts’ expectations of $5.24 million. Microvision had a negative net margin of 193.59% and a negative return on equity of 485.54%. Microvision’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) EPS. analysts expect that Microvision will post -0.32 earnings per share for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in Microvision by 13.7% in the 1st quarter. Bank of New York Mellon Corp now owns 43,935 shares of the electronics maker’s stock valued at $109,000 after buying an additional 5,283 shares in the last quarter. Voya Investment Management LLC purchased a new position in Microvision in the 2nd quarter valued at approximately $101,000. Rhumbline Advisers purchased a new position in Microvision in the 2nd quarter valued at approximately $139,000. Schwab Charles Investment Management Inc. purchased a new position in Microvision in the 2nd quarter valued at approximately $250,000. Finally, Teachers Advisors LLC purchased a new position in Microvision in the 2nd quarter valued at approximately $256,000. Institutional investors and hedge funds own 27.43% of the company’s stock.
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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