Zacks Investment Research cut shares of Vuzix Corporation (NASDAQ:VUZI) from a buy rating to a hold rating in a research note published on Wednesday, October 18th.
According to Zacks, “Vuzix Corporation designs, manufactures, and sells display devices that are worn like eyeglasses and feature built-in video screens that enable the user to view video and digital content, such as movies, computer data, the Internet or video games. It produces both monocular and binocular Video Eyewear devices. The Company focuses on consumer markets for gaming and mobile video and on rugged mobile displays for defence and industrial applications. Vuzix Corporation is based in Rochester, New York. “
Separately, Maxim Group set a $11.00 target price on shares of Vuzix Corporation and gave the stock a buy rating in a research report on Thursday, August 10th.
Vuzix Corporation (NASDAQ VUZI) traded down $0.08 on Wednesday, hitting $4.60. The stock had a trading volume of 96,617 shares, compared to its average volume of 174,854. Vuzix Corporation has a one year low of $4.10 and a one year high of $8.70.
Vuzix Corporation (NASDAQ:VUZI) last posted its quarterly earnings results on Wednesday, August 9th. The company reported ($0.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.01). Vuzix Corporation had a negative return on equity of 143.10% and a negative net margin of 524.82%. The company had revenue of $1.33 million during the quarter. sell-side analysts expect that Vuzix Corporation will post -0.79 EPS for the current fiscal year.
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In other Vuzix Corporation news, COO Paul A. Boris purchased 10,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was purchased at an average price of $6.10 per share, for a total transaction of $61,000.00. Following the completion of the purchase, the chief operating officer now directly owns 160,000 shares in the company, valued at $976,000. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Paul A. Boris purchased 5,000 shares of the business’s stock in a transaction on Wednesday, October 4th. The shares were acquired at an average price of $5.20 per share, with a total value of $26,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 21,800 shares of company stock worth $123,240. 18.40% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Carl Domino Inc increased its holdings in shares of Vuzix Corporation by 11.4% during the second quarter. Carl Domino Inc now owns 39,000 shares of the company’s stock worth $255,000 after buying an additional 4,000 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Vuzix Corporation in the first quarter valued at approximately $108,000. GSA Capital Partners LLP increased its holdings in shares of Vuzix Corporation by 261.3% in the second quarter. GSA Capital Partners LLP now owns 38,300 shares of the company’s stock valued at $251,000 after purchasing an additional 27,700 shares in the last quarter. ETF Managers Group LLC acquired a new stake in shares of Vuzix Corporation in the second quarter valued at approximately $236,000. Finally, KCG Holdings Inc. acquired a new stake in shares of Vuzix Corporation in the first quarter valued at approximately $243,000. Hedge funds and other institutional investors own 8.39% of the company’s stock.
About Vuzix Corporation
Vuzix Corporation designs, manufactures, markets, and sells wearable display devices in the United States and internationally. The companys products are worn like eyeglasses that enable the user to view video and digital content, such as movies, computer data, the Internet, or video games. Its products include binocular wearable displays that contain two micro displays mounted in a frame attached to eyeglass-style temples or stereo headphones; monocular smart glasses products for the enterprise, industrial, and commercial markets, as well as video headphones; augmented reality products, which provide the user a live, direct or indirect, view of a physical, and real-world environment; and video viewing glasses as mobile displays for entertainment and gaming for on-the-go users, as well as support for stepping into virtual worlds, simulations, and virtual reality gaming.
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