Insider Selling: Vuzix (NASDAQ:VUZI) Director Sells 10,000 Shares of Stock

Vuzix Corporation (NASDAQ:VUZI) Director Timothy Heydenreich Harned sold 10,000 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $4.73, for a total value of $47,300.00. Following the transaction, the director owned 318,158 shares of the company’s stock, valued at $1,504,887.34. This represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Vuzix Stock Up 4.0%

Vuzix stock traded up $0.18 during mid-day trading on Thursday, hitting $4.70. 3,518,061 shares of the company were exchanged, compared to its average volume of 1,354,808. The business has a fifty day moving average of $2.60 and a 200 day moving average of $2.77. Vuzix Corporation has a 1-year low of $1.83 and a 1-year high of $4.82. The company has a market capitalization of $390.85 million, a PE ratio of -11.75 and a beta of 1.52.

Vuzix (NASDAQ:VUZI) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.01. Vuzix had a negative return on equity of 116.50% and a negative net margin of 504.12%.The firm had revenue of $1.39 million during the quarter, compared to analyst estimates of $1.35 million.

Analysts Set New Price Targets

Several research firms have issued reports on VUZI. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vuzix in a research note on Friday, April 17th. Wall Street Zen cut Vuzix from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Institutional Investors Weigh In On Vuzix

Several hedge funds and other institutional investors have recently made changes to their positions in VUZI. Millennium Management LLC increased its stake in shares of Vuzix by 278.1% in the 1st quarter. Millennium Management LLC now owns 1,911,972 shares of the company’s stock valued at $3,900,000 after buying an additional 1,406,234 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Vuzix by 59.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 433,900 shares of the company’s stock valued at $885,000 after buying an additional 162,229 shares during the period. Geode Capital Management LLC increased its stake in shares of Vuzix by 101.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,519,934 shares of the company’s stock valued at $4,439,000 after buying an additional 766,420 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Vuzix in the 2nd quarter valued at $1,274,000. Finally, Rhumbline Advisers acquired a new stake in shares of Vuzix in the 2nd quarter valued at $269,000. 35.87% of the stock is owned by institutional investors and hedge funds.

About Vuzix

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.