MicroVision Inc. [NASDAQ: MVIS] surged by $0.06 during the normal trading session on Tuesday and reaching a high of $3.06 during the day while it closed the day at $2.89. The company report on May 9, 2023 at 4:50 PM that MicroVision Announces First Quarter 2023 Results.
MicroVision, Inc. (NASDAQ:MVIS), a leader in MEMS-based solid-state automotive lidar and ADAS solutions, today announced its first quarter 2023 results.
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“Following the closing in January of our acquisition of assets from Ibeo Automotive Systems GmbH, we are energized by the strength of our combined team, accelerated engagement with multiple OEMs, and positive financial performance in Q1 2023. Revenue of $0.8 million was ahead of our expectations, primarily driven by the acquisition.” said Sumit Sharma, MicroVision’s Chief Executive Officer. “I am pleased with our significant achievements in the first quarter, with the momentum in our top line driven by our expanded product offerings and the efficient integration of our U.S. and Germany teams.
MicroVision Inc. stock has also gained 12.89% of its value over the past 7 days. However, MVIS stock has inclined by 3.21% in the 3 months of the year. Over the past six months meanwhile, it has lost -17.66% and gained 22.98% year-on date.
The market cap for MVIS stock reached $476.56 million, with 168.33 million shares outstanding and 164.12 million shares in the current float. Compared to the average trading volume of 2.05M shares, MVIS reached a trading volume of 3957505 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about MicroVision Inc. [MVIS]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MVIS shares is $4.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MVIS stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Cantor Fitzgerald have made an estimate for MicroVision Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 07, 2022. While these analysts kept the previous recommendation, Ladenburg Thalmann raised their target price to Buy. The new note on the price target was released on January 26, 2017, representing the official price target for MicroVision Inc. stock. Previously, the target price had yet another raise to $3.50, while Rodman & Renshaw analysts kept a Buy rating on MVIS stock. On November 13, 2013, analysts decreased their price target for MVIS shares from 4 to 3.50.
The Average True Range (ATR) for MicroVision Inc. is set at 0.19, with the Price to Sales ratio for MVIS stock in the period of the last 12 months amounting to 680.80. The Price to Book ratio for the last quarter was 5.45, with the Price to Cash per share for the same quarter was set at 0.50.
MVIS stock trade performance evaluation
MicroVision Inc. [MVIS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.89. With this latest performance, MVIS shares gained by 31.36% in over the last four-week period, additionally sinking by -17.66% over the last 6 months – not to mention a drop of -10.53% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MVIS stock in for the last two-week period is set at 71.90, with the RSI for the last a single of trading hit 78.83, and the three-weeks RSI is set at 66.10 for MicroVision Inc. [MVIS]. The present Moving Average for the last 50 days of trading for this stock 2.26, while it was recorded at 2.60 for the last single week of trading, and 3.14 for the last 200 days.
MicroVision Inc. [MVIS]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and MicroVision Inc. [MVIS] shares currently have an operating margin of -8115.96 and a Gross Margin at -253.31. MicroVision Inc.’s Net Margin is presently recorded at -7995.63.
Return on Total Capital for MVIS is now -48.02, given the latest momentum, and Return on Invested Capital for the company is -47.97. Return on Equity for this stock declined to -52.44, with Return on Assets sitting at -43.30. When it comes to the capital structure of this company, MicroVision Inc. [MVIS] has a Total Debt to Total Equity ratio set at 17.49. Additionally, MVIS Total Debt to Total Capital is recorded at 14.89, with Total Debt to Total Assets ending up at 13.65. Long-Term Debt to Equity for the company is recorded at 15.41, with the Long-Term Debt to Total Capital now at 13.12.
Reflecting on the efficiency of the workforce at the company, MicroVision Inc. [MVIS] managed to generate an average of -$151,689 per employee.MicroVision Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.80 and a Current Ratio set at 8.00.
Earnings per share (EPS) analysis for MicroVision Inc. [MVIS] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MVIS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for MicroVision Inc. go to 10.00%.
MicroVision Inc. [MVIS]: Insider Ownership positions
There are presently around $149 million, or 30.80% of MVIS stock, in the hands of institutional investors. The top three institutional holders of MVIS stocks are: BLACKROCK INC. with ownership of 13,277,881, which is approximately 1.435% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 9,822,721 shares of the stock with an approximate value of $27.8 million in MVIS stocks shares; and STATE STREET CORP, currently with $14.02 million in MVIS stock with ownership of nearly 1.831% of the company’s market capitalization.
Positions in MicroVision Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 71 institutional holders increased their position in MicroVision Inc. [NASDAQ:MVIS] by around 5,485,714 shares. Additionally, 55 investors decreased positions by around 4,469,847 shares, while 44 investors held positions by with 42,707,079 shares. The mentioned changes placed institutional holdings at 52,662,640 shares, according to the latest SEC report filing. MVIS stock had 21 new institutional investments in for a total of 1,260,832 shares, while 24 institutional investors sold positions of 1,698,136 shares during the same period.