MicroVision (NASDAQ:MVIS) Posts Earnings Results, Misses Expectations By $0.06 EPS

MicroVision (NASDAQ:MVIS - Get Free Report) issued its quarterly earnings results on Monday. The electronics maker reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06), Zacks reports. MicroVision had a negative return on equity of 102.34% and a negative net margin of 1,049.43%. The business had revenue of $0.59 million for the quarter, compared to analyst estimates of $2.25 million.

MicroVision Price Performance

Shares of NASDAQ MVIS traded up $0.05 during midday trading on Friday, reaching $1.12. 6,682,686 shares of the stock were exchanged, compared to its average volume of 3,988,644. The business has a 50-day simple moving average of $1.21 and a two-hundred day simple moving average of $1.21. The company has a market capitalization of $279.17 million, a price-to-earnings ratio of -2.73 and a beta of 2.04. MicroVision has a 12 month low of $0.80 and a 12 month high of $1.95.

Analyst Upgrades and Downgrades

A number of research firms have commented on MVIS. D. Boral Capital lowered their target price on shares of MicroVision from $3.00 to $2.50 and set a "buy" rating for the company in a report on Tuesday. Westpark Capital restated a "buy" rating and issued a $2.00 price target on shares of MicroVision in a research report on Tuesday, March 25th. Finally, StockNews.com upgraded MicroVision to a "sell" rating in a report on Thursday, April 24th.

Institutional Trading of MicroVision

A hedge fund recently bought a new stake in MicroVision stock. NewEdge Advisors LLC purchased a new position in MicroVision, Inc. (NASDAQ:MVIS - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 45,001 shares of the electronics maker's stock, valued at approximately $56,000. Institutional investors own 30.90% of the company's stock.

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.