Vuzix (NASDAQ:VUZI) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Vuzix (NASDAQ:VUZI) issued its earnings results on Thursday. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02, FiscalAI reports. The company had revenue of $1.11 million for the quarter, compared to the consensus estimate of $1.50 million. Vuzix had a negative net margin of 504.12% and a negative return on equity of 116.50%.

Vuzix Trading Up 0.8%

VUZI traded up $0.02 during midday trading on Thursday, reaching $2.64. The company’s stock had a trading volume of 1,045,415 shares, compared to its average volume of 1,408,947. The firm has a market capitalization of $219.54 million, a price-to-earnings ratio of -6.60 and a beta of 1.78. Vuzix has a 1 year low of $1.83 and a 1 year high of $5.62. The stock’s 50-day moving average is $2.74 and its 200-day moving average is $2.81.

Wall Street Analysts Forecast Growth

VUZI has been the topic of several recent analyst reports. Wall Street Zen cut Vuzix from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vuzix in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Vuzix currently has a consensus rating of “Hold”.

Insider Activity at Vuzix

In other Vuzix news, Director Timothy Heydenreich Harned sold 10,000 shares of Vuzix stock in a transaction on 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 transaction, the director owned 318,158 shares in the company, valued at approximately $1,504,887.34. The trade was a 3.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paula Beck Whitten-Doolin sold 32,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was 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 approximately $424,326.24. This represents a 26.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 7.30% of the stock is currently owned by company insiders.

Institutional Trading of Vuzix

Institutional investors and hedge funds have recently bought and sold shares of the company. Jump Financial LLC bought a new position in shares of Vuzix in the second quarter worth approximately $31,000. Quantbot Technologies LP bought a new stake in Vuzix in the 3rd quarter worth about $36,000. State of Wyoming purchased a new position in shares of Vuzix during the fourth quarter valued at approximately $38,000. Insigneo Advisory Services LLC bought a new stake in Vuzix in the 4th quarter worth approximately $41,000. Finally, Daiwa Securities Group Inc. purchased a new stake in Vuzix during the 2nd quarter valued at $52,000. 35.87% of the stock is currently owned by 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.