Vuzix (NASDAQ:VUZI) Stock Crosses Below 200-Day Moving Average – What’s Next?

Shares of Vuzix Corporation (NASDAQ:VUZI) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.99 and traded as low as $2.75. Vuzix shares last traded at $2.77, with a volume of 669,160 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VUZI. Weiss Ratings restated a “sell (d-)” rating on shares of Vuzix in a report on Friday, April 17th. Wall Street Zen upgraded Vuzix from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Vuzix Price Performance

The business’s 50-day moving average price is $3.37 and its two-hundred day moving average price is $2.99. The company has a market capitalization of $230.35 million, a price-to-earnings ratio of -6.92 and a beta of 1.74.

Vuzix (NASDAQ:VUZI) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The business 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 Activity

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in VUZI. Caitong International Asset Management Co. Ltd lifted its stake in Vuzix by 424.2% during 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. State of Wyoming bought a new position in Vuzix in the 4th quarter valued at approximately $38,000. Jump Financial LLC acquired a new stake in Vuzix in the second quarter valued at approximately $31,000. Insigneo Advisory Services LLC bought a new stake in shares of Vuzix during the fourth quarter worth $41,000. Finally, Quantbot Technologies LP acquired a new position in shares of Vuzix during the third quarter worth $36,000. 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.