MicroVision (NASDAQ:MVIS) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of MicroVision, Inc. (NASDAQ:MVIS) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.06 and traded as high as $1.22. MicroVision shares last traded at $1.19, with a volume of 5,600,551 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MVIS. StockNews.com upgraded shares of MicroVision to a “sell” rating in a research note on Friday, December 20th. Westpark Capital started coverage on shares of MicroVision in a research note on Thursday, December 19th. They issued a “buy” rating and a $1.30 target price on the stock.

MicroVision Trading Up 4.9 %

The company has a market cap of $280.34 million, a price-to-earnings ratio of -3.12 and a beta of 2.87. The firm has a 50-day moving average price of $1.06 and a 200 day moving average price of $1.06.

Hedge Funds Weigh In On MicroVision

Several large investors have recently added to or reduced their stakes in the company. Sei Investments Co. bought a new stake in MicroVision during the second quarter valued at $27,000. Aaron Wealth Advisors LLC bought a new stake in shares of MicroVision during the 3rd quarter valued at about $31,000. XTX Topco Ltd acquired a new stake in MicroVision during the second quarter worth about $32,000. Allspring Global Investments Holdings LLC bought a new position in MicroVision in the third quarter worth about $40,000. Finally, Hsbc Holdings PLC boosted its stake in MicroVision by 158.3% in the second quarter. Hsbc Holdings PLC now owns 39,168 shares of the electronics maker’s stock valued at $41,000 after acquiring an additional 24,006 shares during the period. 30.90% of the stock is currently owned by institutional investors.

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.