Microvision (NASDAQ:MVIS) Stock Passes Above 200 Day Moving Average - Here's What Happened

Shares of Microvision, Inc. (NASDAQ:MVIS - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.27 and traded as high as $1.47. Microvision shares last traded at $1.40, with a volume of 9,170,414 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Westpark Capital reissued a "buy" rating and set a $2.00 price target on shares of Microvision in a research note on Tuesday, March 25th. D. Boral Capital reissued a "buy" rating and set a $2.50 price target on shares of Microvision in a research note on Wednesday, May 21st. Finally, Wall Street Zen raised Microvision to a "sell" rating in a research note on Wednesday, May 21st.

Microvision Trading Up 1.4%

The stock has a 50-day simple moving average of $1.17 and a two-hundred day simple moving average of $1.27. The firm has a market capitalization of $348.96 million, a P/E ratio of -3.18 and a beta of 1.56.

Microvision (NASDAQ:MVIS - Get Free Report) last issued its earnings results on Monday, May 12th. The electronics maker reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.06). The firm had revenue of $0.59 million for the quarter, compared to the consensus estimate of $2.25 million. Microvision had a negative net margin of 2,295.70% and a negative return on equity of 161.24%.

Institutional Investors Weigh In On Microvision

A number of institutional investors and hedge funds have recently bought and sold shares of the company. MCF Advisors LLC raised its position in Microvision by 0.8% during the 2nd quarter. MCF Advisors LLC now owns 1,866,419 shares of the electronics maker's stock valued at $2,128,000 after purchasing an additional 14,759 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Microvision in the 2nd quarter worth $38,000. Focus Partners Wealth bought a new position in shares of Microvision in the 1st quarter worth $32,000. NewEdge Advisors LLC bought a new position in shares of Microvision in the 1st quarter worth $56,000. Finally, GMT Capital Corp bought a new position in shares of Microvision in the 1st quarter worth $1,293,000. 30.90% of the stock is owned by institutional investors.

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.