Vuzix (NASDAQ:VUZI) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Vuzix Corporation (NASDAQ:VUZI) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $2.91 and traded as high as $3.89. Vuzix shares last traded at $3.85, with a volume of 3,375,217 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Vuzix in a research report on Wednesday, October 8th. Craig Hallum reaffirmed a “buy” rating on shares of Vuzix in a research note on Wednesday, October 1st. Finally, Wall Street Zen upgraded Vuzix from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Vuzix has an average rating of “Hold”.

Vuzix Stock Performance

The stock has a market capitalization of $308.49 million, a P/E ratio of -8.37 and a beta of 1.75. The firm’s 50-day simple moving average is $2.91 and its 200 day simple moving average is $2.75.

Vuzix (NASDAQ:VUZI) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. The firm had revenue of $1.16 million during the quarter, compared to analysts’ expectations of $1.92 million. Vuzix had a negative return on equity of 117.63% and a negative net margin of 702.71%.

Insider Buying and Selling

In other news, insider Christopher Iain Parkinson sold 9,457 shares of Vuzix stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $2.92, for a total value of $27,614.44. Following the completion of the transaction, the insider owned 142,793 shares of the company’s stock, valued at $416,955.56. This trade represents a 6.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 8.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vuzix

A number of institutional investors have recently bought and sold shares of VUZI. SG Americas Securities LLC lifted its position in shares of Vuzix by 5.1% in the third quarter. SG Americas Securities LLC now owns 75,793 shares of the company’s stock valued at $237,000 after buying an additional 3,680 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Vuzix during the 2nd quarter worth about $31,000. Vanguard Personalized Indexing Management LLC acquired a new position in Vuzix in the 2nd quarter valued at about $32,000. Quantbot Technologies LP acquired a new stake in Vuzix during the third quarter worth approximately $36,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Vuzix in the second quarter valued at approximately $44,000. Institutional investors and hedge funds own 35.87% of the company’s stock.

About Vuzix

Vuzix Corporation (NASDAQ: VUZI) is a technology company specializing in the design, development and manufacture of wearable display devices and smart glasses. Headquartered in Rochester, New York, Vuzix focuses on next-generation augmented reality (AR) and virtual reality (VR) solutions that enable hands-free access to video, data and applications. Its products integrate high-resolution optics, onboard sensors and wireless connectivity to support immersive visual experiences for professional and consumer use.

Vuzix’s product portfolio includes smart glasses and head-mounted displays such as the Vuzix Blade series and the M400 family.