Stock Traders Buy High Volume of MicroVision Call Options (NASDAQ:MVIS)

MicroVision, Inc. (NASDAQ:MVIS) was the target of unusually large options trading activity on Wednesday. Traders purchased 66,418 call options on the company. This is an increase of 858% compared to the average daily volume of 6,936 call options.

MicroVision Stock Performance

NASDAQ:MVIS traded up $0.43 on Wednesday, hitting $1.76. 22,491,481 shares of the stock were exchanged, compared to its average volume of 6,577,112. The stock has a market capitalization of $384.38 million, a price-to-earnings ratio of -4.16 and a beta of 2.87. MicroVision has a 52 week low of $0.80 and a 52 week high of $2.70. The company’s 50-day moving average price is $1.32 and its 200 day moving average price is $1.12.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MVIS. StockNews.com raised shares of MicroVision to a “sell” rating in a research report on Friday, December 20th. Westpark Capital raised their price objective on shares of MicroVision from $1.30 to $2.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, D. Boral Capital started coverage on shares of MicroVision in a research note on Monday, February 10th. They set a “buy” rating and a $3.00 price target on the stock.

Hedge Funds Weigh In On MicroVision

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in shares of MicroVision by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,999,592 shares of the electronics maker’s stock valued at $5,700,000 after purchasing an additional 363,292 shares during the period. Barclays PLC grew its position in shares of MicroVision by 302.0% in the 3rd quarter. Barclays PLC now owns 282,690 shares of the electronics maker’s stock valued at $322,000 after purchasing an additional 212,365 shares during the period. State Street Corp grew its position in shares of MicroVision by 0.7% in the 3rd quarter. State Street Corp now owns 5,095,629 shares of the electronics maker’s stock valued at $5,809,000 after purchasing an additional 37,126 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of MicroVision by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,697,587 shares of the electronics maker’s stock valued at $1,935,000 after purchasing an additional 65,712 shares during the period. Finally, Intech Investment Management LLC acquired a new position in shares of MicroVision in the 3rd quarter valued at approximately $56,000. 30.90% of the stock is currently owned by institutional investors and hedge funds.

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.