Microvision, Inc. (NASDAQ:MVIS) Cut to “Hold” at Zacks Investment Research

Microvision, Inc. (NASDAQ:MVIS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, October 18th.

According to Zacks, “Microvision, Inc. develops information display and related technologies that allow electronically generated images and information to be projected onto a viewer’s eye. They defined three distinct business platforms relating to the delivery of images and information in this manner: Retinal Scanning Displays, Imaging Solutions, Optical Material technology. “

A number of other equities analysts have also issued reports on MVIS. Northland Securities set a $3.00 price target on shares of Microvision and gave the stock a “buy” rating in a research report on Friday, August 4th. ValuEngine raised shares of Microvision from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $3.50 target price on shares of Microvision in a report on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $3.24.

Microvision (MVIS) traded down $0.01 during trading hours on Wednesday, hitting $1.56. 999,136 shares of the stock were exchanged, compared to its average volume of 656,811. Microvision has a twelve month low of $1.01 and a twelve month high of $3.25.

Microvision (NASDAQ:MVIS) last announced its quarterly earnings data on Thursday, November 2nd. The electronics maker reported ($0.07) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.07). Microvision had a negative net margin of 193.59% and a negative return on equity of 335.81%. The firm had revenue of $6.09 million during the quarter, compared to analyst estimates of $5.24 million. During the same period last year, the firm posted ($0.08) EPS. Microvision’s revenue was up 52.3% on a year-over-year basis. sell-side analysts predict that Microvision will post -0.32 earnings per share for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in Microvision by 13.7% in the 1st quarter. Bank of New York Mellon Corp now owns 43,935 shares of the electronics maker’s stock valued at $109,000 after acquiring an additional 5,283 shares during the period. Voya Investment Management LLC acquired a new stake in Microvision in the 2nd quarter valued at $101,000. Rhumbline Advisers acquired a new stake in Microvision in the 2nd quarter valued at $139,000. Schwab Charles Investment Management Inc. acquired a new stake in Microvision in the 2nd quarter valued at $250,000. Finally, Teachers Advisors LLC acquired a new stake in Microvision in the 2nd quarter valued at $256,000. 27.45% of the stock is currently owned by hedge funds and other institutional investors.

Microvision Company Profile

Microvision, Inc is a developer of laser beam scanning (LBS) technology. The Company markets its technology under the brand name, PicoP. It has developed PicoP scanning technology that can be adopted by its customers to create high-resolution miniature projection, and three-dimensional sensing and image capture solutions that use laser diodes as the light source.

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