Vuzix (NASDAQ:VUZI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Sunday.
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. “
Several other equities analysts also recently weighed in on the company. Craig Hallum began coverage on Vuzix in a research report on Monday, January 8th. They set a “buy” rating on the stock. Chardan Capital set a $10.00 price objective on Vuzix and gave the stock a “buy” rating in a report on Monday, January 1st.
Vuzix (NASDAQ:VUZI) last released its earnings results on Thursday, November 9th. The company reported ($0.28) earnings per share for the quarter. Vuzix had a negative return on equity of 134.55% and a negative net margin of 440.45%. research analysts predict that Vuzix will post -0.89 EPS for the current year.
In other news, Director Edward William Jr. Kay acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were bought at an average cost of $5.95 per share, for a total transaction of $59,500.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Paul A. Boris acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, December 19th. The stock was purchased at an average price of $5.74 per share, for a total transaction of $28,700.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 20,000 shares of company stock worth $115,850. Company insiders own 18.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in VUZI. GSA Capital Partners LLP raised its holdings in shares of Vuzix by 261.3% in the 2nd 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. Vanguard Group Inc. raised its holdings in shares of Vuzix by 15.0% in the 2nd 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. Finally, ETF Managers Group LLC purchased a new position in shares of Vuzix in the 2nd quarter worth about $236,000. Institutional investors own 7.92% of the company’s stock.
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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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