Microvision (NASDAQ:MVIS) Announces Quarterly Earnings Results

Microvision (NASDAQ:MVIS) posted its quarterly earnings data on Wednesday. The electronics maker reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03), FiscalAI reports. Microvision had a negative net margin of 7,862.67% and a negative return on equity of 137.37%. The firm had revenue of $0.94 million for the quarter, compared to analysts’ expectations of $0.20 million.

Microvision Trading Up 9.0%

NASDAQ:MVIS traded up $0.06 on Wednesday, hitting $0.76. 12,291,550 shares of the company’s stock traded hands, compared to its average volume of 5,080,303. The company has a market cap of $248.51 million, a PE ratio of -2.17 and a beta of 1.21. Microvision has a 1 year low of $0.51 and a 1 year high of $1.73. The firm has a 50-day moving average price of $0.64 and a 200-day moving average price of $0.82.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in Microvision in the 3rd quarter worth approximately $26,000. BNP Paribas Financial Markets increased its stake in shares of Microvision by 114.4% in the second quarter. BNP Paribas Financial Markets now owns 25,744 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 13,735 shares during the last quarter. Focus Partners Wealth acquired a new position in shares of Microvision in the first quarter worth $32,000. CIBC Bancorp USA Inc. purchased a new stake in shares of Microvision during the third quarter worth $33,000. Finally, Prudential Financial Inc. raised its holdings in shares of Microvision by 77.4% during the second quarter. Prudential Financial Inc. now owns 30,520 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 13,315 shares in the last quarter. 30.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MVIS shares. D. Boral Capital lowered shares of Microvision from a “buy” rating to a “hold” rating in a report on Thursday, March 5th. Wall Street Zen cut shares of Microvision from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 7th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2.50.

Microvision Company Profile

MicroVision, Inc (NASDAQ: MVIS) is a technology company specializing in laser scanning and sensing solutions. Founded in 1993 and headquartered in Redmond, Washington, MicroVision develops its proprietary PicoP® scanning technology, which integrates miniature lasers and microelectromechanical systems (MEMS) mirrors to create high-resolution projection displays and three-dimensional sensing systems. Over the years, the company has built a portfolio of patents and intellectual property focused on precision optics and laser-based signal processing.

At the core of MicroVision’s offerings is its display platform, which enables compact, energy-efficient projection for augmented reality (AR) headsets, head-up displays (HUDs) in automotive environments, and consumer electronics applications such as pico projectors.