Microvision (NASDAQ:MVIS) Upgraded to "Hold" at 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 released on Saturday morning.

Separately, D. Boral Capital restated a "buy" rating and set a $2.50 price objective on shares of Microvision in a research report on Monday, August 11th.

Microvision Price Performance

Shares of NASDAQ:MVIS traded down $0.02 during trading on Friday, reaching $1.12. The stock had a trading volume of 2,870,119 shares, compared to its average volume of 9,226,894. The stock has a market capitalization of $337.08 million, a PE ratio of -2.87 and a beta of 1.43. The business's 50-day moving average price is $1.20 and its 200 day moving average price is $1.23. Microvision has a 52 week low of $0.80 and a 52 week high of $1.95.

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

Institutional Investors Weigh In On Microvision

Institutional investors have recently bought and sold shares of the business. Invesco Ltd. increased its stake in shares of Microvision by 8.7% during the fourth quarter. Invesco Ltd. now owns 110,457 shares of the electronics maker's stock worth $145,000 after acquiring an additional 8,813 shares during the period. Private Advisor Group LLC lifted its stake in shares of Microvision by 22.5% in the first quarter. Private Advisor Group LLC now owns 51,758 shares of the electronics maker's stock worth $64,000 after buying an additional 9,500 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Microvision by 7.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 134,287 shares of the electronics maker's stock worth $153,000 after purchasing an additional 9,637 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Microvision by 17.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 87,608 shares of the electronics maker's stock valued at $100,000 after acquiring an additional 13,217 shares during the period. Finally, Prudential Financial Inc. grew its stake 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 acquiring an additional 13,315 shares in the last quarter. Hedge funds and other 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.