Vuzix (NASDAQ:VUZI – Get Free Report) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Vuzix in a research report on Friday, April 17th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.
Check Out Our Latest Stock Analysis on Vuzix
Vuzix Stock Performance
Vuzix (NASDAQ:VUZI – Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. The business had revenue of $1.39 million during the quarter, compared to analysts’ expectations of $1.35 million. Vuzix had a negative return on equity of 116.50% and a negative net margin of 504.12%.
Insider Activity at Vuzix
In other news, Director Timothy Heydenreich Harned sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $4.73, for a total transaction of $47,300.00. Following the completion of the sale, the director owned 318,158 shares of the company’s stock, valued at approximately $1,504,887.34. This represents a 3.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Paula Beck Whitten-Doolin sold 32,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $4.68, for a total transaction of $149,760.00. Following the sale, the director directly owned 90,668 shares of the company’s stock, valued at approximately $424,326.24. This trade represents a 26.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 7.30% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Vuzix
Large investors have recently modified their holdings of the business. State Street Corp boosted its stake in Vuzix by 373.7% in the fourth quarter. State Street Corp now owns 7,226,194 shares of the company’s stock valued at $27,315,000 after buying an additional 5,700,613 shares in the last quarter. AIGH Capital Management LLC bought a new position in Vuzix in the first quarter valued at about $7,613,000. Millennium Management LLC raised its stake in Vuzix by 278.1% during the first quarter. Millennium Management LLC now owns 1,911,972 shares of the company’s stock worth $3,900,000 after acquiring an additional 1,406,234 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Vuzix by 71.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,032,366 shares of the company’s stock worth $7,825,000 after acquiring an additional 848,142 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Vuzix by 101.7% in the second quarter. Geode Capital Management LLC now owns 1,519,934 shares of the company’s stock worth $4,439,000 after acquiring an additional 766,420 shares during the last quarter. Institutional investors and hedge funds 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.
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