Microvision (NASDAQ:MVIS) Issues Quarterly Earnings Results, Beats Expectations By $0.30 EPS

Microvision (NASDAQ:MVIS – Get Free Report) posted its quarterly earnings results on Wednesday. The electronics maker reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.30, FiscalAI reports. The business had revenue of $2.40 million during the quarter, compared to analysts’ expectations of $2.00 million. Microvision had a negative net margin of 3,976.67% and a negative return on equity of 221.31%.

Microvision Stock Performance

Shares of MVIS traded up $0.06 during mid-day trading on Wednesday, reaching $1.30. The company had a trading volume of 844,851 shares, compared to its average volume of 820,471. Microvision has a 52 week low of $1.08 and a 52 week high of $18.30. The company has a market capitalization of $30.93 million, a price-to-earnings ratio of -0.24 and a beta of 1.13. The firm has a 50-day moving average price of $1.52 and a 200 day moving average price of $6.77.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MVIS. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Microvision in a report on Friday, August 28th. Wall Street Zen upgraded Microvision to a “sell” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Microvision presently has an average rating of “Reduce” and an average target price of $45.00.

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Microvision Company Profile

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MicroVision, Inc develops lidar sensing and perception technologies for automotive and industrial applications. Its products are designed to help vehicles and machines detect, classify and track objects and understand their surroundings, supporting advanced driver-assistance systems and autonomous driving. The company’s technology uses microelectromechanical systems (MEMS), laser scanning and related software to provide real-time environmental data.

MicroVision’s product portfolio includes automotive lidar systems such as MAVIN, a long-range sensor platform, and MOVIA, a compact lidar product intended for applications including vehicle automation and industrial sensing.

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Earnings History for Microvision (NASDAQ:MVIS)

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