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- 1 MicroVision (MVIS) stock price experienced quite a good price surge at the beginning of this year.
- 2 Earlier in June 2023, MVIS stock price witnessed massive bullishness which then slid down near to the month end.
MicroVision Inc. (NASDAQ: MVIS), a MEMS-based solid-state automotive lidar technology and ADAS solutions, noted nearly $808.46 Million market cap. The first quarter (Q1) 2023 earnings are negative $0.11, while the company’s revenue for the same period amounts to $782.00K. Notably, for the upcoming quarter, the estimated earnings are said to be negative -$0.10, and revenue is expected to reach $800.00K.
According to its revenue report, MicroVision Inc.’s revenue amounted to $664.00K last year. Most of that revenue around $664.00K came from its highest performing source at the moment, License and Royalty. However, the greatest contribution to the revenue figure was made by the U.S. as last year it brought the company $664.00K.
MVIS Stock Price Analysis
According to the data sourced from Tradingview, a web-based social network for traders, MicroVision stock performed quite well since the beginning of this year. More than 90% growth of the stock this year points towards the increasing interest of investors in the company.
MVIS stock price closed at $4.58 on June 30, Friday with over 17% surge in its intraday trading session. The opening price noted by the stock was $4.31, while high was $4.66 and low was $4.22. The stock’s last week performance showed more than a 10% surge, while the year-to-date (YTD) price is showing a nearly 91% price rise. This further shows good investors’ support in the MicroVision stock.
As the above price chart shows, the pre-market price of MVIS stock is at $4.53, showing a little price decline from its closing price. It can be seen the stock price was trading near to its 20-day moving average by the bulls support. However, in its previous trading session, the stock price has gained bear dominance which pulled down its price along with RSI.
However, near the weekend, the stock accumulated bulls, who held their price above the trading price range of $4.50.
Furthermore, analysts have shown their loss of confidence in the MVIS stock, as their 1-year price target is at $4.00. It is clearly showing over 12% decline from the recent closing price of the stock. The maximum and minimum price estimate set by the analysts is also showing at $4.00.
According to the analysis, it can be said the stock has noted a good trading volume, especially after MicroVision Inc. released its Q1 2023 reports on May 10, 2023. Till date, mostly bulls have shown their strength, which may continue in the upcoming trading session.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
