Vuzix (NASDAQ:VUZI) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Vuzix Corporation (NASDAQ:VUZI)’s share price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $3.07 and traded as high as $4.55. Vuzix shares last traded at $4.11, with a volume of 1,382,152 shares.

Analyst Ratings Changes

VUZI has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vuzix in a report on Friday, April 17th. Wall Street Zen upgraded shares of Vuzix from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Vuzix presently has a consensus rating of “Hold”.

Vuzix Stock Down 10.1%

The company’s fifty day simple moving average is $3.07 and its 200 day simple moving average is $2.90. The firm has a market capitalization of $341.79 million, a PE ratio of -10.27 and a beta of 1.68.

Vuzix (NASDAQ:VUZI) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. Vuzix had a negative net margin of 504.12% and a negative return on equity of 116.50%. The business had revenue of $1.39 million during the quarter, compared to analyst estimates of $1.35 million.

Insider Activity

In other Vuzix news, 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 completion of the sale, the director directly owned 90,668 shares in the company, valued at $424,326.24. This trade represents a 26.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 completion of the sale, the director 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 disclosure for this sale is available in the SEC filing. Company insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Vuzix

Large investors have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Vuzix by 71.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,032,366 shares of the company’s stock valued at $7,825,000 after purchasing an additional 848,142 shares during the last quarter. Apis Capital Advisors LLC purchased a new position in shares of Vuzix during the third quarter valued at approximately $2,060,000. Laidlaw Wealth Management LLC purchased a new position in shares of Vuzix during the first quarter valued at approximately $79,000. AIGH Capital Management LLC purchased a new position in shares of Vuzix during the first quarter valued at approximately $7,613,000. Finally, Laurel Oak Wealth Management LLC purchased a new position in shares of Vuzix during the first quarter valued at approximately $365,000. 35.87% of the stock is currently owned by hedge funds and other institutional investors.

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.