Microvision (NASDAQ:MVIS) Trading Down 6.7% - Should You Sell?

Key Points

• MicroVision shares fell 6.7% to about $3.72, with trading volume roughly 46% below the average daily level.
• Analyst sentiment is mixed: one analyst rates the stock Buy, one Hold, and one Sell, resulting in a consensus “Hold” rating and an average price target of $37.50.
• The company reported a quarterly loss of $1.20 per share, missing estimates by $0.45, despite revenue of $0.94 million exceeding expectations; institutional investors own approximately 30.9% of the stock.

Microvision, Inc. (NASDAQ:MVIS - Get Free Report) shares traded down 6.7% during trading on Monday . The company traded as low as $3.62 and last traded at $3.7240. Approximately 250,542 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 462,367 shares. The stock had previously closed at $3.99.

Wall Street Analysts Forecast Growth

MVIS has been the subject of a number of analyst reports. Wall Street Zen raised Microvision from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 23rd. Weiss Ratings reissued a "sell (e+)" rating on shares of Microvision in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Microvision currently has a consensus rating of "Hold" and an average target price of $37.50.

Microvision Stock Down 1.0%

The business has a fifty day moving average price of $0.38 and a 200-day moving average price of $0.59. The stock has a market capitalization of $1.31 billion, a P/E ratio of -12.68 and a beta of 1.27.

Microvision (NASDAQ:MVIS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The electronics maker reported ($1.20) EPS for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.45). Microvision had a negative return on equity of 139.20% and a negative net margin of 5,887.77%.The company had revenue of $0.94 million during the quarter, compared to the consensus estimate of $0.20 million.

Hedge Funds Weigh In On Microvision

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its holdings in Microvision by 206.1% during the first quarter. Bank of America Corp DE now owns 1,396,280 shares of the electronics maker's stock valued at $895,000 after purchasing an additional 940,115 shares during the period. Royal Bank of Canada boosted its position in shares of Microvision by 97.6% during the first quarter. Royal Bank of Canada now owns 43,368 shares of the electronics maker's stock worth $27,000 after acquiring an additional 21,423 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Microvision by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 697,357 shares of the electronics maker's stock valued at $447,000 after purchasing an additional 20,032 shares in the last quarter. Private Advisor Group LLC grew its holdings in Microvision by 91.8% during the 1st quarter. Private Advisor Group LLC now owns 110,758 shares of the electronics maker's stock valued at $71,000 after buying an additional 53,000 shares in the last quarter. Finally, Numerai GP LLC purchased a new position in shares of Microvision in the fourth quarter valued at $56,000. Hedge funds and other institutional investors own 30.90% of the company's stock.

About Microvision

MicroVision, Inc NASDAQ: MVIS is a technology company specializing in laser scanning and sensing solutions. Founded in 1993 and headquartered in Redmond, Washington, MicroVision develops its proprietary PicoP® scanning technology, which integrates miniature lasers and microelectromechanical systems (MEMS) mirrors to create high-resolution projection displays and three-dimensional sensing systems. Over the years, the company has built a portfolio of patents and intellectual property focused on precision optics and laser-based signal processing.

At the core of MicroVision's offerings is its display platform, which enables compact, energy-efficient projection for augmented reality (AR) headsets, head-up displays (HUDs) in automotive environments, and consumer electronics applications such as pico projectors.

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