Vuzix Corporation (VUZI) Upgraded by Zacks Investment Research to “Buy”
Vuzix Corporation (NASDAQ:VUZI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $7.00 target price on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 14.75% from the company’s previous close.
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 reissued a “buy” rating and issued a $11.00 price objective on shares of Vuzix Corporation in a report on Wednesday, September 6th.
Vuzix Corporation (NASDAQ VUZI) opened at 6.10 on Thursday. The stock’s market capitalization is $126.11 million. The firm has a 50-day moving average price of $6.02 and a 200 day moving average price of $6.17. Vuzix Corporation has a 12 month low of $5.00 and a 12 month high of $9.50.
Vuzix Corporation (NASDAQ:VUZI) last announced its quarterly earnings data on Wednesday, August 9th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). The firm had revenue of $1.33 million during the quarter. Vuzix Corporation had a negative net margin of 524.82% and a negative return on equity of 143.10%. Equities analysts anticipate that Vuzix Corporation will post ($0.76) earnings per share for the current year.
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In related news, COO Paul A. Boris bought 10,000 shares of the stock in a transaction dated Wednesday, August 9th. The shares were 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 of the company’s stock, valued at $976,000. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 22.90% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Carl Domino Inc boosted its stake in shares of Vuzix Corporation by 11.4% in 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 during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Vuzix Corporation in the first quarter worth about $108,000. GSA Capital Partners LLP boosted its stake 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 worth $251,000 after buying an additional 27,700 shares during the last quarter. ETF Managers Group LLC purchased a new stake in shares of Vuzix Corporation in the second quarter worth about $236,000. Finally, KCG Holdings Inc. purchased a new stake in shares of Vuzix Corporation in the first quarter worth about $243,000. Hedge funds and other institutional investors own 8.60% 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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