MicroVision (NASDAQ:MVIS) Coverage Initiated at Westpark Capital

Equities research analysts at Westpark Capital began coverage on shares of MicroVision (NASDAQ:MVIS) in a report released on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $1.30 price target on the electronics maker’s stock. Westpark Capital’s price target points to a potential upside of 31.94% from the stock’s previous close.

MicroVision Price Performance

NASDAQ MVIS opened at $0.99 on Thursday. The stock has a market capitalization of $215.80 million, a price-to-earnings ratio of -2.40 and a beta of 2.96. MicroVision has a 1-year low of $0.80 and a 1-year high of $2.98. The business’s fifty day moving average price is $0.98 and its 200-day moving average price is $1.03.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Sei Investments Co. bought a new position in shares of MicroVision in the 2nd quarter worth approximately $27,000. Aaron Wealth Advisors LLC purchased a new stake in MicroVision during the third quarter valued at approximately $31,000. XTX Topco Ltd purchased a new stake in MicroVision during the second quarter valued at approximately $32,000. Allspring Global Investments Holdings LLC bought a new position in MicroVision in the third quarter worth approximately $40,000. Finally, Hsbc Holdings PLC boosted its stake in shares of MicroVision by 158.3% during the 2nd quarter. Hsbc Holdings PLC now owns 39,168 shares of the electronics maker’s stock worth $41,000 after acquiring an additional 24,006 shares during the last quarter. 30.90% of the stock is owned by hedge funds and other institutional investors.

MicroVision Company Profile

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.