Microvision (NASDAQ:MVIS) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Microvision (NASDAQ:MVIS) was upgraded by Wall Street Zen from a "sell" to a "hold" rating, reflecting a shift in analysts' sentiment towards the stock.
• The company's recent earnings revealed a negative net margin of 3,470.59% and revenues of $0.20 million, which fell short of analysts' expectations of $0.60 million.
• Several institutional investors increased their stakes in Microvision, with hedge funds now owning 30.90% of the company's stock, indicating growing institutional interest.

Microvision (NASDAQ:MVIS - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Other analysts have also recently issued reports about the stock. D. Boral Capital restated a "buy" rating and set a $3.00 price objective on shares of Microvision in a research note on Tuesday, September 2nd. Westpark Capital restated a "buy" rating and set a $2.00 price objective on shares of Microvision in a research note on Friday, September 5th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $2.50.

Microvision Stock Performance

MVIS stock traded up $0.07 during trading on Friday, reaching $1.25. The company had a trading volume of 8,145,926 shares, compared to its average volume of 3,159,164. The firm has a 50-day simple moving average of $1.18 and a 200-day simple moving average of $1.18. The company has a market cap of $376.20 million, a price-to-earnings ratio of -3.21 and a beta of 1.59. Microvision has a twelve month low of $0.80 and a twelve month high of $1.95.

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

Institutional Investors Weigh In On Microvision

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Microvision by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 16,743,519 shares of the electronics maker's stock worth $20,762,000 after acquiring an additional 842,858 shares in the last quarter. Geode Capital Management LLC increased its holdings in Microvision by 7.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,994,533 shares of the electronics maker's stock worth $6,835,000 after acquiring an additional 431,046 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Microvision by 312.1% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,760,933 shares of the electronics maker's stock worth $4,287,000 after acquiring an additional 2,848,292 shares in the last quarter. MCF Advisors LLC increased its holdings in Microvision by 0.8% in the 2nd quarter. MCF Advisors LLC now owns 1,866,419 shares of the electronics maker's stock worth $2,128,000 after acquiring an additional 14,759 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Microvision by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,854,528 shares of the electronics maker's stock worth $2,300,000 after acquiring an additional 22,462 shares in the last quarter. Hedge funds and other 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.