Vuzix (NASDAQ:VUZI) Price Target Lowered to $3.00 at Craig Hallum

Vuzix (NASDAQ:VUZI) had its price target lowered by Craig Hallum from $3.50 to $3.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Vuzix Stock Performance

Shares of VUZI stock opened at $1.21 on Tuesday. Vuzix has a one year low of $1.10 and a one year high of $6.06. The company’s 50-day moving average is $1.44 and its 200 day moving average is $2.09. The company has a market capitalization of $78.31 million, a price-to-earnings ratio of -1.53 and a beta of 1.86.

Institutional Trading of Vuzix

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Vuzix by 15.0% during the second quarter. BlackRock Inc. now owns 4,575,383 shares of the company’s stock valued at $23,334,000 after buying an additional 597,330 shares during the last quarter. State Street Corp raised its position in shares of Vuzix by 18.2% during the second quarter. State Street Corp now owns 3,693,622 shares of the company’s stock valued at $26,225,000 after buying an additional 569,860 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Vuzix during the fourth quarter valued at approximately $428,000. Geode Capital Management LLC raised its position in shares of Vuzix by 17.2% during the second quarter. Geode Capital Management LLC now owns 1,268,939 shares of the company’s stock valued at $6,479,000 after buying an additional 185,856 shares during the last quarter. Finally, Morgan Stanley increased its position in Vuzix by 60.1% in the fourth quarter. Morgan Stanley now owns 371,654 shares of the company’s stock worth $1,353,000 after purchasing an additional 139,469 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.