Shares of Microvision, Inc. (NASDAQ:MVIS) dropped 9.7% during mid-day trading on Wednesday . The stock traded as low as $1.75 and last traded at $1.86. Approximately 5,757,790 shares changed hands during trading, a decline of 55% from the average daily volume of 12,662,461 shares. The stock had previously closed at $2.06.
Several equities research analysts have recently weighed in on MVIS shares. Zacks Investment Research lowered Microvision from a “hold” rating to a “sell” rating in a research note on Wednesday, August 12th. BidaskClub lowered Microvision from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. HC Wainwright lowered Microvision to a “hold” rating in a research note on Thursday, August 6th. Northland Securities reissued a “hold” rating on shares of Microvision in a research note on Friday, July 24th. Finally, ValuEngine lowered Microvision from a “buy” rating to a “hold” rating in a research note on Thursday, July 2nd. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Microvision presently has an average rating of “Hold” and an average price target of $2.25.
The firm has a market cap of $263.26 million, a price-to-earnings ratio of -13.07 and a beta of 3.22. The company has a 50-day moving average price of $1.60 and a 200 day moving average price of $1.11.
Microvision (NASDAQ:MVIS) last issued its earnings results on Wednesday, August 5th. The electronics maker reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.01). The firm had revenue of $0.59 million during the quarter, compared to analyst estimates of $0.60 million. Equities analysts predict that Microvision, Inc. will post -0.09 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. Bridgeway Capital Management Inc. boosted its position in shares of Microvision by 663.9% in the second quarter. Bridgeway Capital Management Inc. now owns 763,900 shares of the electronics maker’s stock worth $1,039,000 after buying an additional 663,900 shares during the period. Captrust Financial Advisors bought a new position in Microvision during the second quarter valued at about $38,000. Commonwealth Equity Services LLC bought a new position in Microvision during the second quarter valued at about $45,000. Princeton Capital Management LLC raised its holdings in Microvision by 22.7% during the second quarter. Princeton Capital Management LLC now owns 47,186 shares of the electronics maker’s stock valued at $64,000 after buying an additional 8,719 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Microvision during the second quarter valued at about $48,000. 8.65% of the stock is owned by institutional investors and hedge funds.
Microvision Company Profile (NASDAQ:MVIS)
MicroVision, Inc develops PicoP scanning technology to create high-resolution miniature projection, and three-dimensional sensing and image capture solutions in the United States and Asia. Its PicoP scanning technology includes micro-electrical mechanical systems, laser diodes, opto-mechanics, and electronics.
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