Short Interest in Microvision, Inc. (NASDAQ:MVIS) Decreases By 90.8%

Microvision, Inc. (NASDAQ:MVIS) was the recipient of a large decline in short interest in August. As of August 14th, there was short interest totaling 4,832,187 shares, a decline of 90.8% from the July 30th total of 52,671,835 shares. Based on an average daily volume of 2,310,930 shares, the days-to-cover ratio is presently 2.1 days. Currently, 20.6% of the company’s stock are short sold.

Hedge Funds Weigh In On Microvision

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Microvision by 12.4% in the third quarter. Vanguard Group Inc. now owns 20,830,421 shares of the electronics maker’s stock worth $25,830,000 after acquiring an additional 2,305,693 shares during the period. Geode Capital Management LLC boosted its holdings in Microvision by 14.0% in the fourth quarter. Geode Capital Management LLC now owns 7,306,357 shares of the electronics maker’s stock worth $6,052,000 after purchasing an additional 896,423 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Microvision by 4.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,556,145 shares of the electronics maker’s stock worth $2,117,000 after purchasing an additional 119,698 shares during the last quarter. MCF Advisors LLC grew its position in Microvision by 9.6% in the 4th quarter. MCF Advisors LLC now owns 2,090,419 shares of the electronics maker’s stock worth $1,731,000 after purchasing an additional 182,512 shares during the period. Finally, Bank of America Corp DE raised its stake in Microvision by 206.1% during the 1st quarter. Bank of America Corp DE now owns 1,396,280 shares of the electronics maker’s stock valued at $895,000 after buying an additional 940,115 shares during the last quarter. Institutional investors own 30.90% of the company’s stock.

Microvision Price Performance

NASDAQ MVIS traded up $0.03 during mid-day trading on Thursday, reaching $1.88. The stock had a trading volume of 1,017,202 shares, compared to its average volume of 681,428. Microvision has a 1 year low of $1.65 and a 1 year high of $23.10. The stock has a market cap of $44.73 million, a PE ratio of -0.35 and a beta of 1.27. The company has a fifty day moving average price of $4.11 and a 200 day moving average price of $7.55.

Microvision (NASDAQ:MVIS) last posted its earnings results on Thursday, August 6th. The electronics maker reported ($1.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.91). The business had revenue of $1.47 million during the quarter, compared to the consensus estimate of $1.00 million. Microvision had a negative return on equity of 221.31% and a negative net margin of 3,976.67%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Microvision in a research report on Tuesday, June 2nd. Wall Street Zen raised Microvision to a “sell” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Microvision presently has an average rating of “Hold” and a consensus price target of $37.50.

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.