Microvision (MVIS) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of Microvision (NASDAQ:MVIS) from a hold rating to a sell rating in a report released on Thursday morning.

According to Zacks, “Microvision, Inc. develops information display and related technologies that allow electronically generated images and information to be projected onto a viewer’s eye. They defined three distinct business platforms relating to the delivery of images and information in this manner: Retinal Scanning Displays, Imaging Solutions, Optical Material technology. “

Several other brokerages also recently issued reports on MVIS. HC Wainwright set a $4.00 price objective on Microvision and gave the stock a buy rating in a research report on Thursday, November 16th. S&P Equity Research boosted their price objective on Microvision from $1.75 to $2.22 in a research report on Thursday, November 2nd. Finally, ValuEngine downgraded Microvision from a hold rating to a sell rating in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the stock. Microvision presently has an average rating of Hold and an average target price of $3.34.

Shares of Microvision (NASDAQ MVIS) traded up $0.04 during midday trading on Thursday, hitting $1.68. The stock had a trading volume of 421,600 shares, compared to its average volume of 480,700. The firm has a market capitalization of $129.68, a P/E ratio of -5.09 and a beta of -0.04. Microvision has a fifty-two week low of $1.15 and a fifty-two week high of $3.25.

Microvision (NASDAQ:MVIS) last issued its quarterly earnings data on Thursday, November 2nd. The electronics maker reported ($0.07) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.07). The business had revenue of $6.09 million during the quarter, compared to the consensus estimate of $5.24 million. Microvision had a negative return on equity of 335.81% and a negative net margin of 193.59%. The business’s revenue was up 52.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) earnings per share. analysts forecast that Microvision will post -0.3 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AWM Investment Company Inc. acquired a new stake in Microvision in the second quarter worth approximately $13,997,000. State Treasurer State of Michigan lifted its position in Microvision by 8.2% in the third quarter. State Treasurer State of Michigan now owns 3,144,199 shares of the electronics maker’s stock worth $8,741,000 after purchasing an additional 238,095 shares during the period. Vanguard Group Inc. lifted its position in Microvision by 40.0% in the second quarter. Vanguard Group Inc. now owns 2,774,797 shares of the electronics maker’s stock worth $5,883,000 after purchasing an additional 793,102 shares during the period. State Street Corp lifted its position in Microvision by 2,126.7% in the second quarter. State Street Corp now owns 857,452 shares of the electronics maker’s stock worth $1,816,000 after purchasing an additional 818,945 shares during the period. Finally, Northern Trust Corp lifted its position in Microvision by 462.3% in the second quarter. Northern Trust Corp now owns 777,714 shares of the electronics maker’s stock worth $1,648,000 after purchasing an additional 639,411 shares during the period. Hedge funds and other institutional investors own 30.62% of the company’s stock.

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Microvision Company Profile

Microvision, Inc is a developer of laser beam scanning (LBS) technology. The Company markets its technology under the brand name, PicoP. It has developed PicoP scanning technology that can be adopted by its customers to create high-resolution miniature projection, and three-dimensional sensing and image capture solutions that use laser diodes as the light source.

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