Microvision's (MVIS) "Buy" Rating Reaffirmed at Westpark Capital

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.

Westpark Capital reissued their buy rating on shares of Microvision (NASDAQ:MVIS - Free Report) in a report published on Wednesday,Benzinga reports. Westpark Capital currently has a $2.00 price target on the electronics maker's stock.

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

Microvision Stock Performance

Shares of MVIS traded down $0.01 on Wednesday, hitting $1.15. 1,758,516 shares of the stock traded hands, compared to its average volume of 4,355,485. The company has a market capitalization of $346.10 million, a PE ratio of -2.95 and a beta of 1.59. The business has a 50 day simple moving average of $1.18 and a 200 day simple moving average of $1.21. Microvision has a one year low of $0.80 and a one year high of $1.95.

Microvision (NASDAQ:MVIS - Get Free Report) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $0.60 million. Microvision had a negative net margin of 3,470.59% and a negative return on equity of 146.46%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Microvision by 5.3% during 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 during the last quarter. Geode Capital Management LLC boosted its stake in shares of Microvision by 7.7% during 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 during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Microvision by 312.1% during 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 during the last quarter. MCF Advisors LLC boosted its stake in shares of Microvision by 0.8% during 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Microvision by 1.2% during 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 during the last quarter. 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.