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

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

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Vuzix in a report on Friday, April 17th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Vuzix Stock Performance

NASDAQ VUZI opened at $3.64 on Friday. The company has a market capitalization of $302.70 million, a PE ratio of -9.10 and a beta of 1.68. The business’s fifty day moving average is $3.13 and its 200 day moving average is $2.92. Vuzix has a fifty-two week low of $1.83 and a fifty-two week high of $5.62.

Vuzix (NASDAQ:VUZI) last released its earnings results on Thursday, May 14th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. The company had revenue of $1.39 million for the quarter, compared to the consensus estimate of $1.35 million. Vuzix had a negative return on equity of 116.50% and a negative net margin of 504.12%.

Insider Transactions at Vuzix

In other Vuzix news, Director Timothy Heydenreich Harned sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $4.73, for a total transaction of $47,300.00. Following the sale, the director directly owned 318,158 shares of the company’s stock, valued at $1,504,887.34. This trade represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paula Beck Whitten-Doolin sold 32,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $4.68, for a total value of $149,760.00. Following the sale, the director directly owned 90,668 shares in the company, valued at approximately $424,326.24. This represents a 26.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 7.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vuzix

Large investors have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Vuzix by 71.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,032,366 shares of the company’s stock worth $7,825,000 after purchasing an additional 848,142 shares during the last quarter. Apis Capital Advisors LLC bought a new stake in shares of Vuzix in the third quarter worth about $2,060,000. DNB Asset Management AS bought a new stake in shares of Vuzix in the third quarter worth about $216,000. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Vuzix by 118.2% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 271,007 shares of the company’s stock worth $848,000 after purchasing an additional 146,818 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Vuzix by 424.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,493 shares of the company’s stock worth $36,000 after purchasing an additional 7,682 shares during the last quarter. 35.87% of the stock is owned by institutional investors.

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.