MicroVision (NASDAQ:MVIS) Stock Rating Reaffirmed by Cantor Fitzgerald

MicroVision (NASDAQ:MVIS)‘s stock had its “neutral” rating restated by equities researchers at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They currently have a $3.00 price target on the electronics maker’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 169.06% from the company’s previous close.

MicroVision Stock Performance

MicroVision stock traded down $0.02 during mid-day trading on Monday, hitting $1.12. The company’s stock had a trading volume of 1,155,243 shares, compared to its average volume of 2,383,916. The company has a 50 day moving average of $1.11 and a 200-day moving average of $1.70. The stock has a market cap of $230.43 million, a PE ratio of -2.37 and a beta of 3.04. MicroVision has a one year low of $0.86 and a one year high of $4.04.

MicroVision (NASDAQ:MVIS) last posted its quarterly earnings results on Thursday, May 9th. The electronics maker reported ($0.13) earnings per share (EPS) for the quarter. MicroVision had a negative return on equity of 90.04% and a negative net margin of 1,212.54%. The firm had revenue of $0.96 million for the quarter. During the same quarter last year, the firm earned ($0.11) earnings per share. On average, equities research analysts forecast that MicroVision will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On MicroVision

Hedge funds and other institutional investors have recently made changes to their positions in the company. Alpine Global Management LLC bought a new position in shares of MicroVision during the 1st quarter worth $39,000. Victory Capital Management Inc. grew its holdings in MicroVision by 24.1% in the fourth quarter. Victory Capital Management Inc. now owns 25,355 shares of the electronics maker’s stock worth $67,000 after purchasing an additional 4,926 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of MicroVision by 163.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 29,406 shares of the electronics maker’s stock worth $78,000 after purchasing an additional 18,226 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of MicroVision by 89.2% in the 2nd quarter. SG Americas Securities LLC now owns 75,159 shares of the electronics maker’s stock worth $80,000 after purchasing an additional 35,442 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of MicroVision by 604.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 33,223 shares of the electronics maker’s stock worth $88,000 after purchasing an additional 28,505 shares in the last quarter. Institutional investors own 30.90% of the company’s stock.

About MicroVision

MicroVision, Inc develops and sells lidar sensors and software used in automotive safety and autonomous driving applications. It offers a suite of light detection and ranging (lidar) sensors and perception; and validation software for automotive OEMs, advanced driver-assistance systems, and autonomous vehicle applications, as well as non-automotive applications including industrial, robotics, and smart infrastructure.