Vuzix (NASDAQ:VUZI) Shares Cross Above 50 Day Moving Average – Time to Sell?

Vuzix Corporation (NASDAQ:VUZI)’s stock price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $3.07 and traded as high as $4.55. Vuzix shares last traded at $4.11, with a volume of 1,382,152 shares.

Wall Street Analyst Weigh In

VUZI has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Vuzix from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vuzix in a report on Friday, April 17th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold”.

Vuzix Stock Performance

The stock has a 50 day moving average of $3.13 and a 200-day moving average of $2.92. The firm has a market capitalization of $302.70 million, a P/E ratio of -9.10 and a beta of 1.68.

Vuzix (NASDAQ:VUZI) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.39 million for the quarter, compared to analysts’ expectations of $1.35 million.

Insider Transactions at Vuzix

In related news, Director Timothy Heydenreich Harned sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $4.73, for a total value of $47,300.00. Following the sale, the director directly owned 318,158 shares in the company, valued at approximately $1,504,887.34. The trade was 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 business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $4.68, for a total value of $149,760.00. Following the completion of the sale, the director owned 90,668 shares in the company, valued at $424,326.24. This represents a 26.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Vuzix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VUZI. Millennium Management LLC raised its stake in 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 acquiring an additional 1,406,234 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Vuzix by 59.7% during the first 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 position in shares of Vuzix by 101.7% during the second 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. bought a new stake in shares of Vuzix during the second quarter valued at about $1,274,000. Finally, Rhumbline Advisers bought a new stake in shares of Vuzix during the second quarter valued at about $269,000. 35.87% of the stock is currently owned by institutional investors.

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.