Zacks Investment Research lowered shares of Microvision (NASDAQ:MVIS) from a buy rating to a hold rating in a research report released on Wednesday 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. “
Separately, HC Wainwright restated a buy rating and set a $4.00 price objective on shares of Microvision in a research report on Tuesday, August 7th.
Microvision (NASDAQ:MVIS) last posted its quarterly earnings data on Tuesday, July 31st. The electronics maker reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). Microvision had a negative net margin of 126.34% and a negative return on equity of 291.45%. The business had revenue of $2.01 million for the quarter, compared to the consensus estimate of $2.87 million. During the same quarter last year, the business posted ($0.08) EPS. As a group, equities analysts forecast that Microvision will post -0.26 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of MVIS. Jane Street Group LLC purchased a new stake in Microvision during the second quarter valued at about $136,000. PVG Asset Management Corp purchased a new stake in Microvision during the second quarter valued at about $224,000. Rational Advisors LLC purchased a new stake in Microvision during the second quarter valued at about $224,000. Perkins Capital Management Inc. purchased a new stake in Microvision during the second quarter valued at about $224,000. Finally, LMR Partners LLP purchased a new stake in Microvision during the second quarter valued at about $235,000. 26.09% of the stock is owned by institutional investors.
MicroVision, Inc develops PicoP scanning technology that provides high-resolution miniature projection, and three-dimensional sensing and image capture solutions in the United States. Its PicoP scanning technology comprises micro-electrical mechanical systems, laser diodes, opto-mechanics, and electronics.
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