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Why MicroVision (MVIS) Shares Exploded on Thursday

NEW YORK (TheStreet) -- Shares of MicroVision (MVIS) are exploding after Sony (SNE) revealed a new projector module incorporating the nano-cap's technology.

By late morning, the stock had gained 79.3% to $2.42. Trading volume of 6.6 million was more than 29 times its three-month daily average.

Sony shares edged 0.47% higher to $17.15.

Tokyo-based Sony announced it is building a pico projector module with HD resolution, incorporating MicroVision's PicoP technology which allows image and video to be projected from mobile devices.

In a statement, Sony said the technology allows "crisp, beautiful high-definition resolution and "focus-free" projection, regardless of the distance or angle from the projection surface."

"By combining this module with Wi-Fi components and a battery, it can realize a compact, pocket-sized projector which can be used to project images from products such as smartphones or tablets, focus-free and in even higher resolution, on any flat or curved surface such as a wall or desk," Sony added.

TheStreet Ratings team rates SONY CORP as a Hold with a ratings score of C. The team has this to say about their recommendation:

"We rate SONY CORP (SNE) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth and solid stock price performance. However, as a counter to these strengths, we find that the company's profit margins have been poor overall."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Household Durables industry. The net income increased by 468.6% when compared to the same quarter one year prior, rising from -$72.42 million to $266.97 million.
  • SNE's revenue growth trails the industry average of 29.1%. Since the same quarter one year prior, revenues rose by 11.5%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • The current debt-to-equity ratio, 0.54, is low and is below the industry average, implying that there has been successful management of debt levels. Despite the fact that SNE's debt-to-equity ratio is low, the quick ratio, which is currently 0.62, displays a potential problem in covering short-term cash needs.
  • The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. In comparison to the other companies in the Household Durables industry and the overall market, SONY CORP's return on equity is significantly below that of the industry average and is below that of the S&P 500.
  • The gross profit margin for SONY CORP is currently extremely low, coming in at 7.87%. Regardless of SNE's low profit margin, it has managed to increase from the same period last year. Despite the mixed results of the gross profit margin, the net profit margin of 1.29% trails the industry average.

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