Microvision (NASDAQ:MVIS) Shares Cross Above Two Hundred Day Moving Average of $0.72

Microvision, Inc. (NASDAQ:MVIS) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.72 and traded as high as $0.73. Microvision shares last traded at $0.71, with a volume of 19,697 shares trading hands.

A number of analysts recently commented on MVIS shares. ValuEngine upgraded shares of Microvision from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Zacks Investment Research upgraded shares of Microvision from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $2.08.

The stock’s 50-day moving average is $0.76 and its 200 day moving average is $0.72. The firm has a market cap of $85.08 million, a P/E ratio of -2.23 and a beta of 0.63.

Microvision (NASDAQ:MVIS) last released its quarterly earnings data on Wednesday, November 6th. The electronics maker reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.01. Microvision had a negative net margin of 574.86% and a negative return on equity of 1,275.89%. The business had revenue of $1.19 million during the quarter, compared to analysts’ expectations of $1.28 million. On average, analysts predict that Microvision, Inc. will post -0.27 EPS for the current fiscal year.

In other news, Director Brian V. Turner acquired 35,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average price of $0.88 per share, for a total transaction of $30,800.00. Following the transaction, the director now directly owns 198,877 shares in the company, valued at $175,011.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders purchased 83,000 shares of company stock valued at $68,450. 1.50% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its holdings in Microvision by 230.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 132,663 shares of the electronics maker’s stock worth $107,000 after purchasing an additional 92,562 shares in the last quarter. BlackRock Inc. increased its holdings in Microvision by 2.7% during the 2nd quarter. BlackRock Inc. now owns 1,611,229 shares of the electronics maker’s stock worth $1,298,000 after purchasing an additional 41,641 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC increased its holdings in Microvision by 117.6% during the 3rd quarter. Taylor Frigon Capital Management LLC now owns 2,529,136 shares of the electronics maker’s stock worth $1,500,000 after purchasing an additional 1,367,064 shares in the last quarter. Hedge funds and other institutional investors own 20.65% of the company’s stock.

About Microvision (NASDAQ:MVIS)

MicroVision, Inc develops PicoP scanning technology to create high-resolution miniature projection, and three-dimensional sensing and image capture solutions in the United States and Asia. Its PicoP scanning technology includes micro-electrical mechanical systems, laser diodes, opto-mechanics, and electronics.

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