MicroVision, Inc. (NASDAQ:MVIS) is among the top losers of the stock market today, sinking -4.89% or (-0.04 points) to $0.72 from its previous close of $0.76. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 114210 contracts so far this session. MVIS shares had a relatively better volume day versus average trading capacity of 462.99 thousand shares, but with a 0 million float and a 30.67% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MVIS stock indicates that the average analyst price target is $2.56 per share. This means the stock has a potential increase of 255.56% from where the MVIS share price has been trading recently which is between $0.7 and $0.7748. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $1.75. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $3.5.
During the recent trading session for MicroVision, Inc. (NASDAQ:MVIS), the company witnessed their stock drop by $-0.01 over a week and surge $0.08 from the price 20 days ago. When compared to their established 52-week high of $1.44, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 02/25/19. The recent low of $0.51 stood for a -49.82% since 12/18/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.56 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for MVIS is set at $2.5, a figure which is above the recent 1-year high the stock witnessed.
Looking at the current readings for MicroVision, Inc., the two-week RSI stands at 59.73. This figure suggests that MVIS stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current MVIS readings is similarly very revealing as it has a stochastic reading of 61.33% at this stage. This figure means that MVIS share price today is being neutral.
Technical chart claims that MicroVision, Inc. (MVIS) would settle between $0.79/share to $0.82/share level. However, if the stock price goes below the $0.71 mark, then the market for MicroVision, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.67 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.04. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Ladenburg Thalmann, assumed coverage of MVIS assigning Buy rating, according to their opinion released on January 26. Rodman & Renshaw, analysts launched coverage of MicroVision, Inc. (NASDAQ:MVIS) stock with a Buy recommendation, according to their flash note issued to investors on December 17. Analysts at Northland Capital are sticking to their Outperform stance. However, on November 13, they lifted price target for these shares to $3.50 from $4.
MVIS equity has an average rating of 2.36, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 4 analysts rated MicroVision, Inc. (NASDAQ:MVIS) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, MVIS stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 15.6. MicroVision, Inc. current P/B ratio of 0 means it is trading at a discount against its industry’s 2.7.