Microvision, Inc. (NASDAQ:MVIS) issued its quarterly earnings data on Thursday. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02, Briefing.com reports. The firm had revenue of $1.50 million during the quarter, compared to analysts’ expectations of $0.74 million. Microvision had a negative net margin of 156.62% and a negative return on equity of 880.81%. The business’s revenue was down 64.3% on a year-over-year basis. During the same period last year, the company earned ($0.07) earnings per share.
Shares of Microvision (NASDAQ MVIS) traded up 6.06% on Thursday, hitting $2.45. 1,100,403 shares of the stock were exchanged. The company has a 50-day moving average price of $2.20 and a 200 day moving average price of $2.02. The company’s market cap is $166.90 million. Microvision has a 12 month low of $0.89 and a 12 month high of $2.94.
Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its stake in shares of Microvision by 416.2% in the second quarter. Bank of New York Mellon Corp now owns 226,812 shares of the electronics maker’s stock valued at $480,000 after buying an additional 182,877 shares during the period. Rhumbline Advisers purchased a new stake in shares of Microvision during the second quarter valued at approximately $139,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of Microvision during the second quarter valued at approximately $250,000. Geode Capital Management LLC increased its stake in shares of 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. Finally, Segantii Capital Management Ltd purchased a new stake in shares of Microvision during the first quarter valued at approximately $116,000. 30.85% of the stock is currently owned by institutional investors.
MVIS has been the subject of a number of analyst reports. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Microvision in a report on Tuesday, April 25th. Zacks Investment Research cut shares of Microvision from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Finally, ValuEngine upgraded shares of Microvision from a “sell” rating to a “hold” rating in a report on Friday, June 30th.
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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