FY2024 EPS Estimates for MicroVision, Inc. (NASDAQ:MVIS) Cut by Cantor Fitzgerald

MicroVision, Inc. (NASDAQ:MVIS) – Cantor Fitzgerald lowered their FY2024 EPS estimates for shares of MicroVision in a research note issued on Tuesday, November 14th. Cantor Fitzgerald analyst A. Sheppard now forecasts that the electronics maker will post earnings of ($0.41) per share for the year, down from their prior estimate of ($0.38). Cantor Fitzgerald has a “Neutral” rating and a $3.00 price objective on the stock. The consensus estimate for MicroVision’s current full-year earnings is ($0.47) per share.

MicroVision Stock Up 4.7 %

Shares of NASDAQ:MVIS opened at $2.43 on Friday. The firm has a fifty day simple moving average of $2.11 and a two-hundred day simple moving average of $3.14. MicroVision has a 52 week low of $1.82 and a 52 week high of $8.20. The stock has a market capitalization of $461.68 million, a P/E ratio of -5.40 and a beta of 3.18.

MicroVision (NASDAQ:MVIS) last issued its earnings results on Wednesday, November 8th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The company had revenue of $1.05 million during the quarter. During the same quarter in the prior year, the firm posted ($0.08) EPS.

Hedge Funds Weigh In On MicroVision

A number of large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of MicroVision by 88.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,522,292 shares of the electronics maker’s stock valued at $9,405,000 after buying an additional 1,657,338 shares during the period. Renaissance Technologies LLC purchased a new stake in MicroVision in the first quarter worth about $7,079,000. Norges Bank purchased a new stake in shares of MicroVision in the 4th quarter worth approximately $3,002,000. BlackRock Inc. boosted its stake in shares of MicroVision by 9.3% during the second quarter. BlackRock Inc. now owns 14,518,499 shares of the electronics maker’s stock valued at $66,495,000 after purchasing an additional 1,240,618 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in MicroVision by 134.9% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,026,035 shares of the electronics maker’s stock valued at $9,279,000 after buying an additional 1,163,464 shares during the period. 31.34% of the stock is owned by hedge funds and other institutional investors.

About MicroVision

MicroVision, Inc develops and sells lidar sensors used in automotive safety and autonomous driving applications. Its laser beam scanning technology is based on micro-electrical mechanical systems (MEMS), 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 supporting AR headsets; interactive display solutions for the smart speakers market; and Consumer Lidar used in smart home systems.