Microvision (NASDAQ:MVIS) Releases Earnings Results, Misses Estimates By $0.07 EPS

Microvision (NASDAQ:MVIS) issued its quarterly earnings results on Wednesday. The electronics maker reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07), FiscalAI reports. Microvision had a negative return on equity of 131.03% and a negative net margin of 3,354.08%.The company had revenue of $0.22 million during the quarter, compared to the consensus estimate of $3.00 million.

Microvision Price Performance

Shares of MVIS traded down $0.01 during trading hours on Wednesday, hitting $0.78. 4,007,852 shares of the stock were exchanged, compared to its average volume of 4,059,544. The firm has a market capitalization of $238.15 million, a P/E ratio of -2.11 and a beta of 1.21. Microvision has a fifty-two week low of $0.65 and a fifty-two week high of $1.73. The business has a 50-day moving average of $0.84 and a 200-day moving average of $1.01.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. D. Boral Capital reissued a “buy” rating and issued a $3.00 target price on shares of Microvision in a report on Tuesday, January 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Microvision in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.50.

Institutional Investors Weigh In On Microvision

Several institutional investors and hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC acquired a new stake in Microvision during the first quarter worth approximately $56,000. Focus Partners Wealth bought a new position in shares of Microvision during the 1st quarter worth approximately $32,000. JPMorgan Chase & Co. grew its position in shares of Microvision by 20.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 136,739 shares of the electronics maker’s stock worth $156,000 after buying an additional 22,824 shares during the period. Rhumbline Advisers grew its position in shares of Microvision by 17.2% during the 2nd quarter. Rhumbline Advisers now owns 330,919 shares of the electronics maker’s stock worth $377,000 after buying an additional 48,588 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of Microvision by 77.4% in the 2nd quarter. Prudential Financial Inc. now owns 30,520 shares of the electronics maker’s stock valued at $35,000 after acquiring an additional 13,315 shares in the last quarter. Institutional investors own 30.90% of the company’s stock.

About Microvision

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.