HC Wainwright Reaffirms Buy Rating for Microvision, Inc. (MVIS)

HC Wainwright reiterated their buy rating on shares of Microvision, Inc. (NASDAQ:MVIS) in a research report released on Thursday. They currently have a $3.50 price target on the electronics maker’s stock.

MVIS has been the subject of a number of other research reports. Zacks Investment Research raised Microvision from a hold rating to a buy rating and set a $2.75 price objective for the company in a research note on Wednesday, July 19th. ValuEngine raised Microvision from a sell rating to a hold rating in a research note on Friday, June 30th. Finally, Northland Securities set a $3.00 price objective on Microvision and gave the company a buy rating in a research note on Friday, August 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $3.44.

Microvision (NASDAQ:MVIS) traded down 0.69% during mid-day trading on Thursday, hitting $2.88. 1,262,037 shares of the stock traded hands. Microvision has a 1-year low of $0.89 and a 1-year high of $3.25. The firm’s market capitalization is $206.20 million. The company has a 50-day moving average of $2.39 and a 200 day moving average of $2.21.

Microvision (NASDAQ:MVIS) last released its quarterly earnings data on Thursday, August 3rd. The electronics maker reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The firm had revenue of $1.50 million during the quarter, compared to analyst estimates of $0.74 million. Microvision had a negative return on equity of 677.56% and a negative net margin of 224.93%. The business’s quarterly revenue was down 64.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. On average, equities research analysts anticipate that Microvision will post ($0.29) EPS for the current year.

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Institutional investors have recently made changes to their positions in the stock. EAM Investors LLC bought a new position in shares of Microvision during the first quarter valued at approximately $1,301,000. Bank of New York Mellon Corp raised its holdings in shares of Microvision by 13.7% during 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 acquiring an additional 5,283 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Microvision by 92.5% during the first quarter. Geode Capital Management LLC now owns 465,339 shares of the electronics maker’s stock valued at $1,158,000 after acquiring an additional 223,582 shares in the last quarter. Segantii Capital Management Ltd bought a new position in shares of Microvision during the first quarter valued at approximately $116,000. Finally, State Street Corp raised its holdings in shares of Microvision by 2,126.7% during the second quarter. State Street Corp now owns 857,452 shares of the electronics maker’s stock valued at $1,816,000 after acquiring an additional 818,945 shares in the last quarter. Institutional investors own 27.12% of the company’s stock.

About Microvision

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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