Vuzix (NASDAQ:VUZI) Stock Passes Above 50-Day Moving Average – Should You Sell?

Vuzix Corporation (NASDAQ:VUZI)’s stock price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $2.91 and traded as high as $3.64. Vuzix shares last traded at $3.23, with a volume of 2,334,107 shares changing hands.

Wall Street Analysts Forecast Growth

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

Vuzix Stock Down 8.0%

The company has a market cap of $258.82 million, a PE ratio of -7.02 and a beta of 1.47. The company’s fifty day moving average is $2.91 and its 200-day moving average is $2.78.

Vuzix (NASDAQ:VUZI) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. The firm had revenue of $1.16 million for 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 Transactions at Vuzix

In other Vuzix news, insider Christopher Iain Parkinson sold 9,457 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $2.92, for a total transaction of $27,614.44. Following the completion of the sale, the insider directly owned 142,793 shares in the company, valued at $416,955.56. The trade was a 6.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Vuzix

A number of institutional investors and hedge funds have recently made changes to their positions in VUZI. Millennium Management LLC grew its position in shares of Vuzix by 278.1% during the 1st quarter. Millennium Management LLC now owns 1,911,972 shares of the company’s stock valued at $3,900,000 after acquiring an additional 1,406,234 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Vuzix during the second quarter valued at $3,547,000. AIGH Capital Management LLC bought a new stake in Vuzix during the third quarter valued at about $2,813,000. Geode Capital Management LLC increased its position in Vuzix by 101.7% in the second quarter. Geode Capital Management LLC now owns 1,519,934 shares of the company’s stock worth $4,439,000 after buying an additional 766,420 shares in the last quarter. Finally, Apis Capital Advisors LLC bought a new position in shares of Vuzix in the third quarter worth about $2,060,000. Hedge funds and other institutional investors 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.