Vuzix (NASDAQ:VUZI) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Vuzix (NASDAQ:VUZI) from a hold rating to a sell rating in a report issued on Saturday morning.

Vuzix Price Performance

VUZI opened at $2.53 on Friday. Vuzix has a 1-year low of $1.47 and a 1-year high of $4.82. The stock has a market cap of $202.73 million, a P/E ratio of -5.50 and a beta of 1.51. The stock’s 50 day simple moving average is $3.05 and its 200 day simple moving average is $2.84.

Vuzix (NASDAQ:VUZI) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.01. The firm had revenue of $1.16 million during the quarter, compared to analysts’ expectations of $1.92 million. Vuzix had a negative return on equity of 117.63% and a negative net margin of 702.71%.

Insider Activity

In other news, insider Christopher Iain Parkinson sold 9,457 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $2.92, for a total transaction of $27,614.44. Following the completion of the transaction, the insider directly owned 142,793 shares of the company’s stock, valued at $416,955.56. This trade represents a 6.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vuzix

Large investors have recently bought and sold shares of the stock. Millennium Management LLC raised its holdings in shares of Vuzix by 278.1% in the first quarter. Millennium Management LLC now owns 1,911,972 shares of the company’s stock worth $3,900,000 after acquiring an additional 1,406,234 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Vuzix by 59.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 433,900 shares of the company’s stock worth $885,000 after purchasing an additional 162,229 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in Vuzix in the 2nd quarter valued at about $32,000. Los Angeles Capital Management LLC purchased a new position in Vuzix in the 2nd quarter valued at about $108,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Vuzix in the 2nd quarter valued at about $3,547,000. Institutional investors and hedge funds own 35.87% of the company’s stock.

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.