Microvision (MVIS) Shares Down 2.6%

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Microvision, Inc. (NASDAQ:MVIS) was down 2.6% on Friday . The stock traded as low as $1.08 and last traded at $1.11. Approximately 900 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 713,122 shares. The stock had previously closed at $1.14.

Several equities research analysts have recently weighed in on MVIS shares. Zacks Investment Research lowered shares of Microvision from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. HC Wainwright reiterated a “buy” rating and set a $4.00 price target on shares of Microvision in a research report on Tuesday, August 7th.

The stock has a market capitalization of $108.90 million, a PE ratio of -3.36 and a beta of -0.32.

Microvision (NASDAQ:MVIS) last issued its quarterly earnings results on Tuesday, July 31st. The electronics maker reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). The company had revenue of $2.01 million for the quarter, compared to analyst estimates of $2.87 million. Microvision had a negative return on equity of 356.21% and a negative net margin of 223.33%. During the same quarter last year, the company earned ($0.08) EPS. analysts forecast that Microvision, Inc. will post -0.26 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in Microvision during the 2nd quarter worth about $136,000. PVG Asset Management Corp acquired a new position in Microvision during the 2nd quarter valued at about $224,000. Millennium Management LLC acquired a new position in Microvision during the 2nd quarter valued at about $1,858,000. Paloma Partners Management Co acquired a new position in Microvision during the 2nd quarter valued at about $429,000. Finally, EastBay Asset Management LLC acquired a new position in Microvision during the 2nd quarter valued at about $1,724,000. Institutional investors and hedge funds own 27.74% of the company’s stock.

Microvision Company Profile (NASDAQ:MVIS)

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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