In the latest trading session, 0.72 million Microvision Inc. (NASDAQ:MVIS) shares changed hands as the company’s beta touched 3.18. With the company’s most recent per share price at $2.52 changing hands around $0.09 or 3.50% at last look, the market valuation stands at $477.82M. MVIS’s current price is a discount, trading about -225.4% off its 52-week high of $8.20. The share price had its 52-week low at $1.82, which suggests the last value was 27.78% up since then. When we look at Microvision Inc.’s average trading volume, we note the 10-day average is 2.59 million shares, with the 3-month average coming to 1.83 million.
Analysts gave the Microvision Inc. (MVIS) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.00. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended MVIS as a Hold, 0 felt it is a Buy and 0 rated the stock as Underweight. Microvision Inc.’s EPS for the current quarter is expected to be -$0.1.
Microvision Inc. (NASDAQ:MVIS) trade information
Instantly MVIS is in green as seen in intraday trades today. With action 27.66%, the performance over the past five days has been green. The jump to weekly highs of 2.66 on Friday, 11/17/23 added 3.50% to the stock’s daily price. The company’s shares are showing year-to-date upside of 7.02%, with the 5-day performance at 27.66% in the green. However, in the 30-day time frame, Microvision Inc. (NASDAQ:MVIS) is 25.12% up. Looking at the short shares, we see there were 49.99 million shares sold at short interest cover period of 34.96 days.
The consensus price target for the stock as assigned by Wall Street analysts is $2.51, meaning bulls need a downside of -0.4% from its recent market value. According to analyst projections, MVIS’s forecast low is $2.01 with $3.00 as the target high. To hit the forecast high, the stock’s price needs a -19.05% plunge from its current level, while the stock would need to tank 20.24% for it to hit the projected low.
Microvision Inc. (MVIS) estimates and forecasts
Data shows that the Microvision Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -37.90% over the past 6 months, a -46.88% in annual growth rate that is considerably lower than the industry average of -18.20%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Microvision Inc. will fall -25.00%, while the growth in revenue is estimated to hit 27.30% for the next quarter. Year-over-year growth is forecast to reach 988.90% up from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $5.05 million. 2 analysts are of the opinion that Microvision Inc.’s revenue for the quarter ending Mar 2024 will be $9.8 million. The estimates for the next quarter sales put growth at 4,800.00%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -0.42%. The 2023 estimates are for Microvision Inc. earnings to decrease by -46.87%, but the outlook for the next 5-year period is at 10.00% per year.
Microvision Inc. is expected to release its next quarterly earnings report on November 09.
Microvision Inc. (NASDAQ:MVIS)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.92% of Microvision Inc. shares while 31.59% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 31.88%. There are 31.59% institutions holding the Microvision Inc. stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 7.73% of the shares, roughly 14.52 million MVIS shares worth $66.49 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 6.97% or 13.08 million shares worth $59.92 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 5.66 million shares estimated at $25.93 million under it, the former controlled 3.02% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.13% of the shares, roughly 4.0 million shares worth around $10.08 million.