Vuzix (NASDAQ:VUZI) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Vuzix (NASDAQ:VUZI) from a hold rating to a sell rating in a research report released on Saturday morning.

Vuzix Trading Up 2.4%

VUZI stock opened at $2.53 on Friday. Vuzix has a 1-year low of $1.47 and a 1-year high of $4.82. The business’s 50 day simple moving average is $3.04 and its 200 day simple moving average is $2.85. The firm has a market capitalization of $202.73 million, a PE ratio of -5.50 and a beta of 1.52.

Insider Activity

In related news, insider Christopher Iain Parkinson sold 9,457 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $2.92, for a total value of $27,614.44. Following the transaction, the insider owned 142,793 shares in the company, valued at approximately $416,955.56. This represents a 6.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Vuzix

A number of institutional investors have recently made changes to their positions in the company. Verition Fund Management LLC increased its stake in shares of Vuzix by 50.3% during the fourth quarter. Verition Fund Management LLC now owns 124,385 shares of the company’s stock worth $470,000 after purchasing an additional 41,628 shares during the period. Barclays PLC grew its holdings in Vuzix by 15.2% in the 4th quarter. Barclays PLC now owns 105,355 shares of the company’s stock valued at $398,000 after buying an additional 13,872 shares in the last quarter. Formula Growth Ltd. bought a new position in Vuzix during the 4th quarter worth $1,247,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Vuzix by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 221,699 shares of the company’s stock worth $838,000 after buying an additional 11,916 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Vuzix by 373.7% during the fourth quarter. State Street Corp now owns 7,226,194 shares of the company’s stock worth $27,315,000 after buying an additional 5,700,613 shares in the last quarter. Institutional investors own 35.87% of the company’s stock.

Vuzix Company Profile

Vuzix Corporation (NASDAQ: VUZI) is a technology company specializing in the design, development and manufacture of wearable display devices and smart glasses. Headquartered in Rochester, New York, Vuzix focuses on next-generation augmented reality (AR) and virtual reality (VR) solutions that enable hands-free access to video, data and applications. Its products integrate high-resolution optics, onboard sensors and wireless connectivity to support immersive visual experiences for professional and consumer use.

Vuzix’s product portfolio includes smart glasses and head-mounted displays such as the Vuzix Blade series and the M400 family.