ProShare Advisors LLC Reduces Stake in Microvision, Inc. $MVIS

ProShare Advisors LLC trimmed its position in shares of Microvision, Inc. (NASDAQ:MVIS) by 69.4% during the second quarter, Holdings Channel reports. The firm owned 64,877 shares of the electronics maker’s stock after selling 147,039 shares during the quarter. ProShare Advisors LLC’s holdings in Microvision were worth $74,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MVIS. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Microvision by 312.1% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,760,933 shares of the electronics maker’s stock valued at $4,287,000 after purchasing an additional 2,848,292 shares during the last quarter. Lakeside Advisors INC. increased its position in Microvision by 66.5% during the 2nd quarter. Lakeside Advisors INC. now owns 102,638 shares of the electronics maker’s stock worth $117,000 after purchasing an additional 41,000 shares in the last quarter. MCF Advisors LLC boosted its stake in shares of Microvision by 0.8% during the 2nd quarter. MCF Advisors LLC now owns 1,866,419 shares of the electronics maker’s stock worth $2,128,000 after purchasing an additional 14,759 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Microvision during the second quarter worth approximately $38,000. Finally, Focus Partners Wealth acquired a new stake in shares of Microvision during the first quarter worth $32,000. Hedge funds and other institutional investors own 30.90% of the company’s stock.

Microvision Trading Down 1.7%

Shares of NASDAQ MVIS opened at $0.96 on Wednesday. Microvision, Inc. has a 12-month low of $0.80 and a 12-month high of $1.95. The company has a market cap of $294.13 million, a price-to-earnings ratio of -2.47 and a beta of 1.67. The stock’s 50 day simple moving average is $1.18 and its 200 day simple moving average is $1.17.

Microvision (NASDAQ:MVIS) last issued its earnings results on Wednesday, November 12th. The electronics maker reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. The firm had revenue of $0.24 million for the quarter, compared to analyst estimates of $0.23 million. Microvision had a negative return on equity of 146.46% and a negative net margin of 3,470.59%.

Analysts Set New Price Targets

Several brokerages recently commented on MVIS. D. Boral Capital reaffirmed a “buy” rating and set a $3.00 price target on shares of Microvision in a research report on Wednesday, November 12th. Westpark Capital reiterated a “buy” rating and issued a $2.00 price target on shares of Microvision in a report on Tuesday, October 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Microvision in a report on Thursday, November 20th. Finally, Wall Street Zen raised Microvision from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.50.

About Microvision

MicroVision, Inc develops and sells lidar sensors and software used in automotive safety and autonomous driving applications. It offers a suite of light detection and ranging (lidar) sensors and perception; and validation software for automotive OEMs, advanced driver-assistance systems, and autonomous vehicle applications, as well as non-automotive applications including industrial, robotics, and smart infrastructure.