Microvision Inc. (MVIS) stock gained by 36.76% at the last trading close while the MVIS stock price continues to soar by 12.74% at last check in the pre-market trading. MicroVision is a leader in MEMS-based laser beam scanning technologies, combining MEMS, lasers, optics, hardware, algorithms, and machine learning applications to target current and developing markets.
MVIS announced that it will report its first-quarter 2021 results on Thursday, April 29, 2021, after the close of the market.
MicroVision’s name was mentioned in a post on Reddit’s WallStreetBets website, which contributed to the spike in share price. PicoP scanning technology is being developed by MicroVision. PicoP is a miniature laser sensing and projected display solution operated by the laser beam scanning process. Microvision uses laser beam scanning technologies to create low-cost solid-state LiDAR devices, which are in high demand from OEMs that work with virtual displays, augmented reality, and consumer data products. MVIS’s automotive LiDAR technologies are also gaining popularity, which is good news for the company’s top line.
Investors bet on MicroVision’s lidar technologies and patents, and the price has risen more than 5,000 percent in the last year. Individual investors’ increased emphasis on technology stocks in 2020 is also likely to have added to the share price increases. This manufacturer of miniature video show drivers is forecast to record a quarterly loss of $0.02 per share in its forthcoming report, representing a 50 percent year-over-year shift. Revenues are forecast to be $0.75 million, down 49% from the same quarter a year earlier.
The consensus EPS forecast for the quarter has remained constant for MicroVision over the last 30 days. In the lack of any trend in earnings forecast updates, a stock’s price typically does not continue to rise. So, keep an eye on MVIS in the coming months to see if the recent intensity can be translated into more strength in the future.