Vuzix (NASDAQ:VUZI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Saturday.
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 price objective on Vuzix and gave the stock a “buy” rating in a research report on Thursday, August 10th.
In other Vuzix news, COO Paul A. Boris bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The stock was acquired at an average price of $5.20 per share, with a total value of $26,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward William Jr. Kay bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were acquired at an average cost of $5.95 per share, with a total value of $59,500.00. The disclosure for this purchase can be found here. Insiders have purchased 21,800 shares of company stock valued at $121,740 in the last ninety days. 18.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp acquired a new stake in Vuzix during the first quarter worth approximately $108,000. ETF Managers Group LLC acquired a new stake in Vuzix during the second quarter worth approximately $236,000. GSA Capital Partners LLP grew its stake in Vuzix by 261.3% during the second quarter. GSA Capital Partners LLP now owns 38,300 shares of the company’s stock worth $251,000 after purchasing an additional 27,700 shares during the period. Finally, Vanguard Group Inc. grew its stake in Vuzix by 15.0% during the second quarter. Vanguard Group Inc. now owns 646,120 shares of the company’s stock worth $4,232,000 after purchasing an additional 84,127 shares during the period. 8.75% of the stock is owned by institutional investors and hedge funds.
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Vuzix Company Profile
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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