Microvision (NASDAQ:MVIS) Stock Set to Reverse Split on Monday, August 3rd

Shares of Microvision, Inc. (NASDAQ:MVIS) are going to reverse split on the morning of Monday, August 3rd. The 1-15 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, August 2nd.

Microvision Stock Down 8.6%

Microvision stock opened at $0.25 on Friday. The business’s 50-day moving average price is $0.41 and its 200 day moving average price is $0.61. The firm has a market cap of $83.47 million, a price-to-earnings ratio of -0.81 and a beta of 1.24. Microvision has a 52 week low of $0.25 and a 52 week high of $1.62.

Microvision (NASDAQ:MVIS) last announced its quarterly earnings results on Wednesday, May 13th. The electronics maker reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). Microvision had a negative net margin of 5,887.77% and a negative return on equity of 139.20%. The company had revenue of $0.94 million for the quarter, compared to analysts’ expectations of $0.20 million.

Analysts Set New Price Targets

Several research firms have recently weighed in on MVIS. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Microvision in a report on Tuesday, June 2nd. Wall Street Zen raised shares of Microvision from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.50.

Hedge Funds Weigh In On Microvision

A number of large investors have recently bought and sold shares of MVIS. Bank of America Corp DE boosted its position in Microvision by 206.1% during the first quarter. Bank of America Corp DE now owns 1,396,280 shares of the electronics maker’s stock worth $895,000 after purchasing an additional 940,115 shares in the last quarter. Royal Bank of Canada increased its position in shares of Microvision by 97.6% in the first quarter. Royal Bank of Canada now owns 43,368 shares of the electronics maker’s stock valued at $27,000 after buying an additional 21,423 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Microvision by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 697,357 shares of the electronics maker’s stock valued at $447,000 after buying an additional 20,032 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Microvision by 91.8% during the 1st quarter. Private Advisor Group LLC now owns 110,758 shares of the electronics maker’s stock worth $71,000 after buying an additional 53,000 shares during the period. Finally, Numerai GP LLC acquired a new position in shares of Microvision during the 4th quarter worth approximately $56,000. Institutional investors and hedge funds own 30.90% of the company’s stock.

Microvision Company Profile

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.