Vuzix (NASDAQ:VUZI) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Vuzix Corporation (NASDAQ:VUZI) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.86 and traded as low as $2.12. Vuzix shares last traded at $2.14, with a volume of 1,047,319 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vuzix in a research note on Wednesday, July 15th. Wall Street Zen cut shares of Vuzix from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Vuzix presently has an average rating of “Hold”.

Vuzix Trading Down 4.9%

The firm’s 50 day moving average price is $3.16 and its two-hundred day moving average price is $2.86. The company has a market capitalization of $177.96 million, a price-to-earnings ratio of -5.35 and a beta of 1.74.

Vuzix (NASDAQ:VUZI) last issued its earnings results on Thursday, May 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.35 million.

Insider Activity at Vuzix

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

Hedge Funds Weigh In On Vuzix

Several institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp increased its holdings in shares of Vuzix by 373.7% in the fourth quarter. State Street Corp now owns 7,226,194 shares of the company’s stock valued at $27,315,000 after purchasing an additional 5,700,613 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Vuzix by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,631,584 shares of the company’s stock worth $11,367,000 after buying an additional 147,811 shares during the last quarter. AIGH Capital Management LLC bought a new stake in shares of Vuzix during the 1st quarter worth about $7,613,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Vuzix by 71.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,032,366 shares of the company’s stock worth $7,825,000 after buying an additional 848,142 shares during the period. Finally, Millennium Management LLC grew its stake in Vuzix by 278.1% in the 1st quarter. Millennium Management LLC now owns 1,911,972 shares of the company’s stock valued at $3,900,000 after buying an additional 1,406,234 shares during the last quarter. 35.87% of the stock is currently owned by institutional investors and hedge funds.

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.