Vuzix (NASDAQ:VUZI) PT Lowered to $3.00

Vuzix (NASDAQ:VUZI) had its target price cut by equities research analysts at Craig Hallum from $3.50 to $3.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s price objective suggests a potential upside of 146.91% from the stock’s current price.

Vuzix Stock Down 1.2 %

VUZI traded down $0.02 during trading on Tuesday, reaching $1.22. 891,815 shares of the company were exchanged, compared to its average volume of 719,705. The company’s 50-day moving average is $1.47 and its two-hundred day moving average is $2.12. The company has a market cap of $78.63 million, a price-to-earnings ratio of -1.93 and a beta of 1.86. Vuzix has a 12-month low of $1.10 and a 12-month high of $6.06.

Institutional Trading of Vuzix

A number of institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its holdings in shares of Vuzix by 23.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 17,484 shares of the company’s stock valued at $115,000 after acquiring an additional 3,339 shares in the last quarter. Swiss National Bank increased its position in shares of Vuzix by 7.9% during the 1st quarter. Swiss National Bank now owns 142,900 shares of the company’s stock valued at $943,000 after purchasing an additional 10,500 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Vuzix during the 1st quarter valued at about $71,000. JPMorgan Chase & Co. increased its position in shares of Vuzix by 9.2% during the 1st quarter. JPMorgan Chase & Co. now owns 68,121 shares of the company’s stock valued at $450,000 after purchasing an additional 5,716 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Vuzix by 22.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 20,155 shares of the company’s stock valued at $133,000 after purchasing an additional 3,679 shares during the last quarter. Hedge funds and other institutional investors own 35.87% of the company’s stock.

About Vuzix

Vuzix Corporation, together with its subsidiaries, designs, manufactures, markets, and sells augmented reality (AR) wearable display and computing devices for consumer and enterprise markets in North America, Europe, the Asia-Pacific, and internationally. It provides M400, and M4000 series of smart glasses for enterprise, industrial, commercial, and medical markets; Vuzix Blade smart glasses; waveguide optics and related coupling optics; Vuzix Shield smart glasses; Vuzix Ultralite smart glasses; and Mobilium logistics mobility software, which removes traditional middleware and supports various ERP systems, as well as custom and engineering solutions.