Vuzix (NASDAQ:VUZI) Shares Up 3.7%

Vuzix Co. (NASDAQ:VUZI)’s share price shot up 3.7% during mid-day trading on Friday . The stock traded as high as $18.63 and last traded at $18.63. 3,261 shares traded hands during mid-day trading, a decline of 100% from the average session volume of 6,502,000 shares. The stock had previously closed at $17.96.

VUZI has been the topic of several research reports. Craig Hallum boosted their price objective on shares of Vuzix from $12.00 to $30.00 in a research note on Tuesday, March 16th. Maxim Group reaffirmed a “hold” rating on shares of Vuzix in a research report on Monday, March 22nd. BTIG Research assumed coverage on Vuzix in a research note on Tuesday, February 16th. They set a “buy” rating for the company. Finally, Zacks Investment Research raised Vuzix from a “sell” rating to a “hold” rating in a research note on Wednesday, May 19th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $17.67.

The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -40.36 and a beta of 2.41. The business’s 50 day simple moving average is $20.95.

Vuzix (NASDAQ:VUZI) last released its quarterly earnings data on Sunday, May 9th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The business had revenue of $3.90 million during the quarter, compared to the consensus estimate of $3.83 million. Vuzix had a negative return on equity of 29.77% and a negative net margin of 137.70%. The company’s revenue for the quarter was up 160.0% on a year-over-year basis. Equities analysts expect that Vuzix Co. will post -0.36 earnings per share for the current year.

Institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC purchased a new stake in Vuzix in the first quarter worth approximately $474,000. Morgan Stanley boosted its stake in shares of Vuzix by 118.7% in the 1st quarter. Morgan Stanley now owns 241,224 shares of the company’s stock worth $6,136,000 after buying an additional 130,926 shares during the last quarter. Tudor Investment Corp Et Al bought a new stake in shares of Vuzix in the first quarter worth $1,085,000. Perigon Wealth Management LLC bought a new stake in shares of Vuzix in the first quarter worth $818,000. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Vuzix by 143.1% in the first quarter. Cubist Systematic Strategies LLC now owns 63,095 shares of the company’s stock worth $1,605,000 after acquiring an additional 37,140 shares during the period. Institutional investors own 33.28% of the company’s stock.

Vuzix Company Profile (NASDAQ:VUZI)

Vuzix Corporation designs, manufactures, markets, and sells augmented reality (AR) wearable display and computing devices for consumer and enterprise markets in North America, the Asia-Pacific, Europe, and internationally. It provides M300XL, M400, and M4000 series of smart glasses for enterprise, industrial, commercial, and medical markets; Vuzix Blade smart glasses; waveguide optics and related coupling optics; and other AR products, such as binocular next generation smart glasses and AR smart glasses product with 3D, stereo cameras, and 3D camera vision, as well as custom and engineering solutions.

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