Microvision (NASDAQ:MVIS) Releases Quarterly Earnings Results

Microvision (NASDAQ:MVIS) issued its quarterly earnings data on Tuesday. The electronics maker reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01, Zacks reports. Microvision had a negative net margin of 3,470.59% and a negative return on equity of 146.46%.

Microvision Stock Performance

Microvision stock remained flat at $1.07 during mid-day trading on Tuesday. The company’s stock had a trading volume of 5,808,316 shares, compared to its average volume of 6,116,577. The company has a market cap of $322.03 million, a price-to-earnings ratio of -2.74 and a beta of 1.67. The firm’s 50 day simple moving average is $1.22 and its two-hundred day simple moving average is $1.18. Microvision has a 12-month low of $0.80 and a 12-month high of $1.95.

Institutional Investors Weigh In On Microvision

Several institutional investors and hedge funds have recently bought and sold shares of MVIS. Vanguard Group Inc. increased its holdings in Microvision by 12.4% in the 3rd quarter. Vanguard Group Inc. now owns 20,830,421 shares of the electronics maker’s stock valued at $25,830,000 after buying an additional 2,305,693 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Microvision during the 2nd quarter worth approximately $63,000. BNP Paribas Financial Markets increased its stake in Microvision by 114.4% in the second quarter. BNP Paribas Financial Markets now owns 25,744 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 13,735 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in Microvision by 148.4% in the second quarter. Bridgeway Capital Management LLC now owns 251,100 shares of the electronics maker’s stock valued at $286,000 after acquiring an additional 150,000 shares during the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in Microvision during the second quarter valued at approximately $308,000. Institutional investors own 30.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. D. Boral Capital reiterated a “buy” rating and issued a $3.00 price target on shares of Microvision in a research note on Tuesday, September 2nd. Wall Street Zen raised Microvision from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Microvision in a research note on Wednesday, October 8th. Finally, Westpark Capital reissued a “buy” rating and set a $2.00 price target on shares of Microvision in a report on Tuesday, October 21st. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.50.

About Microvision

MicroVision, Inc develops and sells lidar sensors and software used in automotive safety and autonomous driving applications. It offers a suite of light detection and ranging (lidar) sensors and perception; and validation software for automotive OEMs, advanced driver-assistance systems, and autonomous vehicle applications, as well as non-automotive applications including industrial, robotics, and smart infrastructure.