Microvision (NASDAQ:MVIS) Stock Rating Upgraded by Wall Street Zen

Key Points

• Microvision has been upgraded by Wall Street Zen from a "sell" to a "hold" rating, reflecting improved analyst confidence in the company's stock.
• Despite the upgrade, Microvision's recent quarterly earnings report showed a loss of ($0.06) per share, with revenue significantly below expectations at $0.20 million.
• Institutional investors have increased their holdings in Microvision, with notable increases from firms like Vanguard Group and Mitsubishi UFJ Asset Management, indicating growing interest in the company.

Wall Street Zen upgraded shares of Microvision (NASDAQ:MVIS - Free Report) from a sell rating to a hold rating in a research report report published on Saturday.

Separately, D. Boral Capital restated a "buy" rating and issued a $2.50 target price on shares of Microvision in a research note on Monday, August 11th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $2.25.

Microvision Price Performance

Shares of MVIS remained flat at $1.07 during trading hours on Friday. The stock had a trading volume of 4,827,252 shares, compared to its average volume of 8,628,988. The business's fifty day moving average is $1.19 and its 200 day moving average is $1.23. The firm has a market cap of $322.03 million, a price-to-earnings ratio of -2.74 and a beta of 1.43. Microvision has a 12 month low of $0.80 and a 12 month high of $1.95.

Microvision (NASDAQ:MVIS - Get Free Report) last issued its earnings results on Thursday, August 7th. The electronics maker reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $0.20 million during the quarter, compared to the consensus estimate of $0.60 million. Microvision had a negative return on equity of 146.46% and a negative net margin of 3,470.59%.

Hedge Funds Weigh In On Microvision

Several hedge funds have recently modified their holdings of MVIS. BNP Paribas Financial Markets lifted its position in shares of Microvision by 114.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 25,744 shares of the electronics maker's stock worth $29,000 after buying an additional 13,735 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Microvision by 226.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 22,852 shares of the electronics maker's stock worth $30,000 after buying an additional 15,861 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Microvision during the 1st quarter worth approximately $32,000. Prudential Financial Inc. lifted its position in shares of Microvision by 77.4% during the 2nd quarter. Prudential Financial Inc. now owns 30,520 shares of the electronics maker's stock worth $35,000 after buying an additional 13,315 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Microvision during the 2nd quarter worth approximately $38,000. Institutional investors own 30.90% of the company's stock.

Microvision Company Profile

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.