Wall Street Zen Downgrades Vuzix (NASDAQ:VUZI) to Sell

Vuzix (NASDAQ:VUZI) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Vuzix Trading Up 2.4%

VUZI stock opened at $2.53 on Friday. The firm has a market cap of $202.73 million, a P/E ratio of -5.50 and a beta of 1.51. Vuzix has a 12-month low of $1.47 and a 12-month high of $4.82. The stock’s 50 day simple moving average is $3.05 and its 200 day simple moving average is $2.83.

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

Insider Activity at Vuzix

In related news, insider Christopher Iain Parkinson sold 9,457 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $2.92, for a total transaction of $27,614.44. Following the completion of the sale, the insider owned 142,793 shares of the company’s stock, valued at $416,955.56. This represents a 6.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Vuzix

A number of large investors have recently bought and sold shares of VUZI. State Street Corp grew its holdings in shares of Vuzix by 373.7% during the fourth quarter. State Street Corp now owns 7,226,194 shares of the company’s stock valued at $27,315,000 after purchasing an additional 5,700,613 shares during the last quarter. Millennium Management LLC boosted its position in 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 purchasing an additional 1,406,234 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Vuzix during the 2nd quarter valued at approximately $3,547,000. AIGH Capital Management LLC bought a new position in Vuzix during the 3rd quarter worth $2,813,000. Finally, 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 during the period. Institutional investors own 35.87% of the company’s stock.

Vuzix Company Profile

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.