Westpark Capital Reaffirms Buy Rating for Microvision (NASDAQ:MVIS)

Key Points

• Westpark Capital has reaffirmed a buy rating for Microvision (NASDAQ:MVIS) and set a price target of $2.00, suggesting a potential upside of 76.21% from the stock's previous close.
• Microvision reported earnings of ($0.06) per share for the latest quarter, matching analyst expectations but falling short on revenue estimates, generating only $0.20 million compared to the projected $0.60 million.
• Institutional investors significantly increased their holdings in Microvision during the fourth quarter, with 30.90% of the company's stock now held by hedge funds and other institutions.

Microvision (NASDAQ:MVIS - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at Westpark Capital in a note issued to investors on Wednesday,Benzinga reports. They presently have a $2.00 target price on the electronics maker's stock. Westpark Capital's price target indicates a potential upside of 76.21% from the company's previous close.

Several other research firms have also recently issued reports on MVIS. Wall Street Zen raised shares of Microvision from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. D. Boral Capital reiterated a "buy" rating and set a $2.50 price target on shares of Microvision in a research note on Monday, August 11th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $2.25.

Microvision Trading Up 1.3%

Shares of Microvision stock traded up $0.02 during trading hours on Wednesday, reaching $1.14. The stock had a trading volume of 1,314,523 shares, compared to its average volume of 6,370,421. The stock's 50 day moving average is $1.18 and its 200 day moving average is $1.21. The firm has a market capitalization of $341.60 million, a PE ratio of -2.91 and a beta of 1.43. Microvision has a twelve month low of $0.80 and a twelve month high of $1.95.

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

Institutional Trading of Microvision

Hedge funds and other institutional investors have recently made changes to their positions in the company. Deutsche Bank AG boosted its holdings in Microvision by 35.1% during the fourth quarter. Deutsche Bank AG now owns 154,576 shares of the electronics maker's stock worth $202,000 after buying an additional 40,142 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in Microvision during the fourth quarter worth approximately $92,000. Millennium Management LLC increased its position in Microvision by 10,387.0% during the fourth quarter. Millennium Management LLC now owns 1,125,670 shares of the electronics maker's stock worth $1,475,000 after purchasing an additional 1,114,936 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Microvision in the fourth quarter worth $65,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Microvision in the fourth quarter worth $267,000. 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.

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