MicroVision, Inc. (NASDAQ:MVIS)’s share price shot up 17% during mid-day trading on Wednesday . The stock traded as high as $6.98 and last traded at $6.55. 29,252,549 shares changed hands during trading, an increase of 78% from the average session volume of 16,442,781 shares. The stock had previously closed at $5.60.
Several research firms have issued reports on MVIS. Zacks Investment Research upgraded shares of MicroVision from a “sell” rating to a “hold” rating in a report on Thursday, December 31st. BidaskClub raised shares of MicroVision from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 16th. Six equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. MicroVision currently has an average rating of “Hold” and an average target price of $2.25.
The stock has a 50 day moving average of $4.50 and a 200-day moving average of $2.53. The firm has a market capitalization of $958.23 million, a P/E ratio of -59.50 and a beta of 3.29.
A number of hedge funds have recently bought and sold shares of the business. Bridgeway Capital Management Inc. grew its holdings in MicroVision by 663.9% during the 2nd quarter. Bridgeway Capital Management Inc. now owns 763,900 shares of the electronics maker’s stock valued at $1,039,000 after buying an additional 663,900 shares in the last quarter. California Public Employees Retirement System grew its stake in MicroVision by 972.8% during the 3rd quarter. California Public Employees Retirement System now owns 296,100 shares of the electronics maker’s stock worth $577,000 after buying an additional 268,500 shares during the last quarter. Aristides Capital LLC grew its stake in MicroVision by 44.4% during the 3rd quarter. Aristides Capital LLC now owns 250,182 shares of the electronics maker’s stock worth $488,000 after buying an additional 76,900 shares during the last quarter. Morgan Stanley grew its stake in MicroVision by 93.7% during the 3rd quarter. Morgan Stanley now owns 81,051 shares of the electronics maker’s stock valued at $158,000 after purchasing an additional 39,208 shares during the last quarter. Finally, Farmers Trust Co. purchased a new stake in MicroVision during the 3rd quarter valued at about $104,000. 8.50% of the stock is owned by institutional investors and hedge funds.
About MicroVision (NASDAQ:MVIS)
MicroVision, Inc develops scanning technology to create high-resolution miniature projection, and three-dimensional sensing and image capture solutions under the PicoP brand in the United States. Its PicoP scanning technology is based on micro-electrical mechanical systems, laser diodes, opto-mechanics, and electronics.
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