Stock Traders Purchase Large Volume of Call Options on MicroVision (NASDAQ:MVIS)

MicroVision, Inc. (NASDAQ:MVIS) was the recipient of some unusual options trading on Wednesday. Stock traders bought 66,418 call options on the stock. This represents an increase of approximately 858% compared to the average daily volume of 6,936 call options.

Wall Street Analyst Weigh In

A number of analysts have commented on MVIS shares. StockNews.com upgraded shares of MicroVision to a “sell” rating in a research note on Friday, December 20th. Westpark Capital increased their price target on MicroVision from $1.30 to $2.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, D. Boral Capital began coverage on shares of MicroVision in a research note on Monday, February 10th. They issued a “buy” rating and a $3.00 target price on the stock.

MicroVision Stock Down 3.4 %

NASDAQ MVIS opened at $1.69 on Friday. The firm has a market cap of $370.14 million, a P/E ratio of -4.12 and a beta of 2.87. The company’s 50 day moving average is $1.36 and its 200-day moving average is $1.13. MicroVision has a 12-month low of $0.80 and a 12-month high of $2.70.

Institutional Investors Weigh In On MicroVision

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hudson Bay Capital Management LP purchased a new position in MicroVision during the 4th quarter valued at about $2,116,000. Renaissance Technologies LLC purchased a new position in shares of MicroVision during the fourth quarter worth approximately $1,769,000. Millennium Management LLC lifted its stake in MicroVision by 10,387.0% in the fourth quarter. Millennium Management LLC now owns 1,125,670 shares of the electronics maker’s stock worth $1,475,000 after purchasing an additional 1,114,936 shares during the last quarter. JPMorgan Chase & Co. grew its position in MicroVision by 686.5% during the 4th quarter. JPMorgan Chase & Co. now owns 708,518 shares of the electronics maker’s stock worth $928,000 after acquiring an additional 618,429 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of MicroVision by 7.8% in the third quarter. Geode Capital Management LLC now owns 4,999,592 shares of the electronics maker’s stock worth $5,700,000 after purchasing an additional 363,292 shares during the last quarter. Institutional investors own 30.90% of the company’s stock.

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.