Brokers Set Expectations for MicroVision, Inc.’s FY2023 Earnings (NASDAQ:MVIS)

MicroVision, Inc. (NASDAQ:MVISGet Rating) – Stock analysts at Cantor Fitzgerald issued their FY2023 earnings estimates for shares of MicroVision in a report issued on Monday, June 6th. Cantor Fitzgerald analyst A. Sheppard anticipates that the electronics maker will post earnings per share of ($0.38) for the year. Cantor Fitzgerald currently has a “Neutral” rating and a $5.00 price target on the stock.

Separately, Zacks Investment Research cut shares of MicroVision from a “hold” rating to a “sell” rating in a research report on Tuesday, May 10th.

NASDAQ:MVIS opened at $3.89 on Wednesday. The firm has a 50-day moving average of $3.55 and a two-hundred day moving average of $4.30. MicroVision has a 1-year low of $2.50 and a 1-year high of $24.69.

MicroVision (NASDAQ:MVISGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter. The company had revenue of $0.35 million during the quarter. MicroVision had a negative net margin of 2,114.59% and a negative return on equity of 36.14%. During the same period in the prior year, the company posted ($0.04) EPS.

Several hedge funds have recently modified their holdings of MVIS. MCF Advisors LLC bought a new position in shares of MicroVision during the first quarter worth about $30,000. Itau Unibanco Holding S.A. lifted its position in shares of MicroVision by 137.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 7,000 shares of the electronics maker’s stock worth $36,000 after purchasing an additional 4,058 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of MicroVision by 420.5% during the first quarter. Nisa Investment Advisors LLC now owns 8,640 shares of the electronics maker’s stock worth $40,000 after purchasing an additional 6,980 shares during the last quarter. Spearhead Capital Advisors LLC bought a new position in shares of MicroVision during the fourth quarter worth about $52,000. Finally, Stifel Financial Corp bought a new position in shares of MicroVision during the fourth quarter worth about $53,000. 28.72% of the stock is currently owned by institutional investors and hedge funds.

About MicroVision (Get Rating)

MicroVision, Inc develops lidar sensors used in automotive safety and autonomous driving applications. Its laser beam scanning technology is based on micro-electrical mechanical systems, laser diodes, opto-mechanics, electronics, algorithms, and software. The company also develops micro-display concepts and designs for head-mounted augmented reality (AR) headsets, as well as 1440i MEMS module that can support AR headsets; Interactive Display modules used in smart speakers and other devices; and Consumer Lidar used in smart home systems.

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