MVIS Stock Price: Microvision Inc loses monthly gains in a couple of days

NASDAQ:MVIS shares have falled by almost 20% in the last couple of trading sessions.
Ladenburg Thalmann analyst reiterates buy rating and sets new price target.
Microvision announces quarterly earnings call on October 29th, 2020.

Stocks Reporter FXStreet

NASDAQ:MVIS continued to fall on Thursday amid broad stock market sell-off. The falls have followed a near 10% surge on Monday after several months of trading at relatively flat levels, a rollercoaster that still has MVIS slightly on green figures for the month of October. Year-to-date, the stock has performed admirably despite the coronavirus pandemic and has returned nearly 250% to investors so far. After the two-day surge shares are now trading well above Microvision’s 50-day and 200-day moving averages and is trending sharply upwards ahead of its quarterly earnings call.

That earnings call has officially been scheduled for October 29th, 2020, and analysts are optimistic that the laser-scanning technology maker can continue to build on its current momentum. Ladenburg Thalmann reiterated its buy position on Microvision and raised its price target for the stock up to $4.20. The new price target represents a fairly healthy 60% increase over Tuesday’s closing price as well as a 21% increase over the 52-week high price of $3.45. The Redmond, Washington based firm has been rumoured for a while to be a buyout candidate by another Redmond-based company known as Microsoft (NASDAQ:MSFT), although these rumours have long been denied by the tech giant.

NASDAQ:MVIS news

According to some analysts, the expected consensus earnings per share number for MVIS is estimated at $-0.02, while this figure in the same quarter last year was $-0.05 per share. Speculation of a future contact with another tech giant Apple (NASDAQ:AAPL) to use Microvision’s laser technology in the newest iteration of its IPhone has also caused the stock to spike leading up to Apple’s unveiling in mid-October. Just as with the Microsoft rumours, nothing has come to fruition in regards to working with Apple, yet.

Author

Stocks Reporter

FXStreet

USD/JPY eyes August swing low, near 155.20 ahead of US NFP

USD/JPY retests the August monthly swing low during the Asian session on Friday as a more hawkish repricing of BoJ rate-hike bets and a suspected intervention continue to underpin the Japanese Yen. Meanwhile, the US Dollar is seen consolidating the previous day's heavy losses amid soft US bond yields, further weighing on the currency pair as traders keenly await the US NFP report.

AUD/USD consolidates above 0.7200; US NFP awaited

AUD/USD holds steady above 0.7200, near its highest level since mid-May, as bulls await the US NFP report for more cues on the Fed's policy path before placing fresh bets. Meanwhile, the recent decline in US bond yields keeps the US Dollar depressed near its lowest level in over a week and acts as a tailwind for the Aussie amid the RBA's hawkish tilt.

Gold tumbles as blockbuster US NFP lift US Dollar, Treasury yields

Gold (XAU/USD) falls sharply on Friday, snapping a two-day recovery after the US Nonfarm Payrolls (NFP) report surprised strongly to the upside. The metal briefly climbed above $4,500 on Thursday, gaining nearly 2%, but has since erased a large part of that advance.

Crypto’s $638 million buyback boom may not be as bullish as it looks

Decentralized Finance (DeFi) protocols reportedly spent $638 million to buy back their native tokens in August, up 17% from a year earlier. On the surface, the buyback trend suggests the cryptocurrency industry is maturing fast, adopting one of Wall Street’s oldest tools to bolster valuations and distribute revenue. The headline becomes less impressive once the number is opened up.

Why hawkish Bank of Japan expectations aren't enough to sustain the Japanese Yen rally

The Japanese Yen (JPY) experienced a sudden burst higher after falling back below the 160.00 psychological mark against the US Dollar (USD) earlier this week amid a more hawkish repricing of Bank of Japan (BoJ) rate hike expectations.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.