Vuzix (NASDAQ:VUZI) Trading 3.7% Higher

Vuzix Co. (NASDAQ:VUZI)’s share price was up 3.7% during mid-day trading on Friday . The company traded as high as $18.63 and last traded at $18.63. Approximately 3,261 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 6,502,000 shares. The stock had previously closed at $17.96.

A number of research analysts have issued reports on VUZI shares. Maxim Group restated a “hold” rating on shares of Vuzix in a research report on Monday, March 22nd. Zacks Investment Research upgraded Vuzix from a “sell” rating to a “hold” rating in a research report on Wednesday, May 19th. Craig Hallum upped their price target on shares of Vuzix from $12.00 to $30.00 in a report on Tuesday, March 16th. Finally, BTIG Research began coverage on shares of Vuzix in a research note on Tuesday, February 16th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $17.67.

The company has a market capitalization of $1.20 billion, a PE ratio of -40.36 and a beta of 2.41. The company has a fifty day moving average price of $20.95.

Vuzix (NASDAQ:VUZI) last announced its quarterly earnings results on Sunday, May 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.02). Vuzix had a negative net margin of 137.70% and a negative return on equity of 29.77%. The business had revenue of $3.90 million during the quarter, compared to analyst estimates of $3.83 million. The business’s quarterly revenue was up 160.0% on a year-over-year basis. On average, analysts anticipate that Vuzix Co. will post -0.36 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in VUZI. Total Clarity Wealth Management Inc. bought a new stake in shares of Vuzix during the first quarter valued at approximately $25,000. Baillie Gifford & Co. bought a new stake in Vuzix during the 1st quarter worth approximately $25,000. Advisory Services Network LLC raised its stake in shares of Vuzix by 92.8% in the fourth quarter. Advisory Services Network LLC now owns 3,470 shares of the company’s stock worth $32,000 after purchasing an additional 1,670 shares during the last quarter. Jacobi Capital Management LLC bought a new position in shares of Vuzix in the fourth quarter valued at approximately $42,000. Finally, Eudaimonia Partners LLC purchased a new position in shares of Vuzix during the first quarter valued at approximately $51,000. Hedge funds and other institutional investors own 33.28% of the company’s stock.

Vuzix Company Profile (NASDAQ:VUZI)

Vuzix Corporation designs, manufactures, markets, and sells augmented reality (AR) wearable display and computing devices for consumer and enterprise markets in North America, the Asia-Pacific, Europe, and internationally. It provides M300XL, M400, and M4000 series of smart glasses for enterprise, industrial, commercial, and medical markets; Vuzix Blade smart glasses; waveguide optics and related coupling optics; and other AR products, such as binocular next generation smart glasses and AR smart glasses product with 3D, stereo cameras, and 3D camera vision, as well as custom and engineering solutions.

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