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

Key Points

• Wall Street Zen upgraded Microvision to a “Sell” rating, while Weiss Ratings reaffirmed its “sell (e+)” rating. Overall, analysts’ consensus remains “Hold,” with a target price of $37.50.
• Microvision shares opened at $3.38 after reportedly rising 3.7%, but remain well below the 52-week high of $23.10. The company has a market capitalization of approximately $74.8 million and deeply negative profitability metrics.
• The company reported a quarterly loss of $1.66 per share, missing the consensus estimate of a $0.75 loss, although revenue of $1.47 million exceeded expectations. Hedge funds and other institutional investors own about 30.9% of the stock.

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

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Microvision in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $37.50.

Microvision Trading Up 3.7%

Shares of Microvision stock opened at $3.38 on Friday. Microvision has a 52 week low of $3.11 and a 52 week high of $23.10. The stock has a market cap of $74.77 million, a PE ratio of -0.62 and a beta of 1.27. The company's 50-day moving average price is $5.03 and its two-hundred day moving average price is $8.49.

Microvision (NASDAQ:MVIS - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The electronics maker reported ($1.66) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.91). The business had revenue of $1.47 million for the quarter, compared to the consensus estimate of $1.00 million. Microvision had a negative net margin of 3,976.67% and a negative return on equity of 184.40%.

Institutional Trading of Microvision

A number of hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in shares of Microvision in the third quarter worth approximately $26,000. Royal Bank of Canada raised its holdings 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 valued at $27,000 after acquiring an additional 21,423 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Microvision by 114.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 25,744 shares of the electronics maker's stock valued at $29,000 after acquiring an additional 13,735 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of Microvision in the 1st quarter valued at approximately $32,000. Finally, CIBC Bancorp USA Inc. acquired a new position in Microvision in the 3rd quarter worth approximately $33,000. 30.90% of the stock is owned by hedge funds and other institutional investors.

Microvision Company Profile

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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