Microvision, Inc. (NASDAQ:MVIS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $2.75 price objective on the electronics maker’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 20.09% from the company’s current price.
According to Zacks, “Microvision, Inc. develops information display and related technologies that allow electronically generated images and information to be projected onto a viewer’s eye. They defined three distinct business platforms relating to the delivery of images and information in this manner: Retinal Scanning Displays, Imaging Solutions, Optical Material technology. “
Other analysts have also recently issued research reports about the company. ValuEngine upgraded Microvision from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Microvision in a research report on Tuesday, April 25th.
Microvision (NASDAQ:MVIS) opened at 2.29 on Wednesday. The stock’s 50 day moving average is $2.11 and its 200 day moving average is $1.96. The firm’s market cap is $156.00 million. Microvision has a 12 month low of $0.89 and a 12 month high of $2.94.
Microvision (NASDAQ:MVIS) last posted its quarterly earnings data on Thursday, April 27th. The electronics maker reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The firm had revenue of $0.79 million during the quarter, compared to analysts’ expectations of $1.09 million. Microvision had a negative return on equity of 880.81% and a negative net margin of 156.62%. The firm’s quarterly revenue was down 78.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.07) EPS. On average, equities analysts forecast that Microvision will post ($0.35) earnings per share for the current year.
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A number of hedge funds have recently bought and sold shares of MVIS. Geode Capital Management LLC boosted its stake in Microvision by 92.5% in the first quarter. Geode Capital Management LLC now owns 465,339 shares of the electronics maker’s stock valued at $1,158,000 after buying an additional 223,582 shares during the period. Segantii Capital Management Ltd acquired a new stake in Microvision during the first quarter valued at approximately $116,000. EAM Investors LLC acquired a new stake in Microvision during the first quarter valued at approximately $1,301,000. Finally, Bank of New York Mellon Corp boosted its stake in Microvision by 13.7% in the first 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 during the period. Institutional investors own 30.85% 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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