Zacks Investment Research Lowers Vuzix Co. (VUZI) to Hold
Zacks Investment Research lowered shares of Vuzix Co. (NASDAQ:VUZI) from a buy rating to a hold rating in a report issued on Wednesday.
According to Zacks, “Vuzix Corporation designs, manufactures, and sells display devices that are worn like eyeglasses and feature built-in video screens that enable the user to view video and digital content, such as movies, computer data, the Internet or video games. It produces both monocular and binocular Video Eyewear devices. The Company focuses on consumer markets for gaming and mobile video and on rugged mobile displays for defence and industrial applications. Vuzix Corporation is based in Rochester, New York. “
Separately, Maxim Group reissued a buy rating and issued a $11.00 price objective on shares of Vuzix in a research note on Wednesday, September 6th.
Shares of Vuzix (NASDAQ:VUZI) opened at 6.15 on Wednesday. The firm’s market cap is $127.15 million. The stock has a 50 day moving average of $6.03 and a 200-day moving average of $6.16. Vuzix has a 1-year low of $5.00 and a 1-year high of $9.50.
Vuzix (NASDAQ:VUZI) last announced its earnings results on Wednesday, August 9th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). The business had revenue of $1.33 million during the quarter. Vuzix had a negative net margin of 524.82% and a negative return on equity of 143.10%. Equities analysts anticipate that Vuzix will post ($0.76) EPS for the current fiscal year.
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In other news, COO Paul A. Boris bought 10,000 shares of Vuzix stock in a transaction on Wednesday, August 9th. The shares were bought at an average cost of $6.10 per share, for a total transaction of $61,000.00. Following the acquisition, the chief operating officer now owns 160,000 shares in the company, valued at $976,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.90% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in VUZI. Bank of New York Mellon Corp purchased a new position in Vuzix in the 1st quarter valued at about $108,000. ETF Managers Group LLC acquired a new position in shares of Vuzix during the 2nd quarter valued at about $236,000. KCG Holdings Inc. acquired a new position in shares of Vuzix during the 1st quarter valued at about $243,000. GSA Capital Partners LLP increased its stake in shares of Vuzix by 261.3% during the 2nd quarter. GSA Capital Partners LLP now owns 38,300 shares of the company’s stock valued at $251,000 after acquiring an additional 27,700 shares during the last quarter. Finally, Carl Domino Inc increased its stake in shares of Vuzix by 11.4% during the 2nd quarter. Carl Domino Inc now owns 39,000 shares of the company’s stock valued at $255,000 after acquiring an additional 4,000 shares during the last quarter. Institutional investors own 8.60% of the company’s stock.
Vuzix Company Profile
Vuzix Corporation designs, manufactures, markets, and sells wearable display devices in the United States and internationally. The companys products are worn like eyeglasses that enable the user to view video and digital content, such as movies, computer data, the Internet, or video games. Its products include binocular wearable displays that contain two micro displays mounted in a frame attached to eyeglass-style temples or stereo headphones; monocular smart glasses products for the enterprise, industrial, and commercial markets, as well as video headphones; augmented reality products, which provide the user a live, direct or indirect, view of a physical, and real-world environment; and video viewing glasses as mobile displays for entertainment and gaming for on-the-go users, as well as support for stepping into virtual worlds, simulations, and virtual reality gaming.
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