Vuzix Corporation (NASDAQ:VUZI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “Vuzix Corporation designs, manufactures, and sells display devices that are worn like eyeglasses and feature built-in video screens that enable the user to view video and digital content, such as movies, computer data, the Internet or video games. It produces both monocular and binocular Video Eyewear devices. The Company focuses on consumer markets for gaming and mobile video and on rugged mobile displays for defence and industrial applications. Vuzix Corporation is based in Rochester, New York. “
Separately, Maxim Group set a $11.00 target price on Vuzix Corporation and gave the company a “buy” rating in a research report on Thursday, August 10th.
Shares of Vuzix Corporation (NASDAQ VUZI) opened at 6.15 on Friday. Vuzix Corporation has a 12-month low of $5.00 and a 12-month high of $9.80. The company has a 50-day moving average of $6.20 and a 200 day moving average of $6.15. The firm’s market capitalization is $127.15 million.
Vuzix Corporation (NASDAQ:VUZI) last issued its quarterly earnings data on Wednesday, August 9th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.01. The firm had revenue of $1.33 million during the quarter. Vuzix Corporation had a negative net margin of 524.82% and a negative return on equity of 143.10%. On average, analysts predict that Vuzix Corporation will post ($0.76) EPS for the current year.
In related news, COO Paul A. Boris bought 10,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was purchased at an average cost of $6.10 per share, for a total transaction of $61,000.00. Following the transaction, the chief operating officer now owns 160,000 shares in the company, valued at approximately $976,000. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 22.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in VUZI. Carl Domino Inc increased its stake in shares of Vuzix Corporation by 191.7% in the first quarter. Carl Domino Inc now owns 35,000 shares of the company’s stock valued at $217,000 after buying an additional 23,000 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Vuzix Corporation during the first quarter valued at $108,000. KCG Holdings Inc. acquired a new stake in shares of Vuzix Corporation during the first quarter valued at $243,000. GSA Capital Partners LLP increased its stake in shares of Vuzix Corporation by 261.3% in the second quarter. GSA Capital Partners LLP now owns 38,300 shares of the company’s stock valued at $251,000 after buying an additional 27,700 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Vuzix Corporation by 15.0% in the second quarter. Vanguard Group Inc. now owns 646,120 shares of the company’s stock valued at $4,232,000 after buying an additional 84,127 shares in the last quarter. Institutional investors and hedge funds own 9.37% of the company’s stock.
About Vuzix Corporation
Vuzix Corporation designs, manufactures, markets, and sells wearable display devices in the United States and internationally. The companys products are worn like eyeglasses that enable the user to view video and digital content, such as movies, computer data, the Internet, or video games. Its products include binocular wearable displays that contain two micro displays mounted in a frame attached to eyeglass-style temples or stereo headphones; monocular smart glasses products for the enterprise, industrial, and commercial markets, as well as video headphones; augmented reality products, which provide the user a live, direct or indirect, view of a physical, and real-world environment; and video viewing glasses as mobile displays for entertainment and gaming for on-the-go users, as well as support for stepping into virtual worlds, simulations, and virtual reality gaming.
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