Vuzix (NASDAQ:VUZI) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

Shares of Vuzix Corporation (NASDAQ:VUZI) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.83 and traded as low as $2.55. Vuzix shares last traded at $2.61, with a volume of 458,259 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on VUZI shares. Wall Street Zen cut Vuzix from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Weiss Ratings lowered Vuzix from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Vuzix currently has a consensus rating of “Hold”.

Vuzix Stock Down 0.2%

The company has a market cap of $203.86 million, a PE ratio of -6.17 and a beta of 1.78. The company’s fifty day moving average is $2.59 and its 200-day moving average is $2.83.

Vuzix (NASDAQ:VUZI) last announced its earnings results on Thursday, August 13th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The business had revenue of $1.11 million during the quarter, compared to analyst estimates of $1.50 million. Vuzix had a negative net margin of 519.11% and a negative return on equity of 125.60%.

Institutional Investors Weigh In On Vuzix

A number of large investors have recently made changes to their positions in VUZI. State Street Corp lifted its stake in shares of Vuzix by 373.7% in the 4th quarter. State Street Corp now owns 7,226,194 shares of the company’s stock worth $27,315,000 after purchasing an additional 5,700,613 shares during the period. AIGH Capital Management LLC bought a new stake in Vuzix during the first quarter valued at approximately $7,613,000. Millennium Management LLC increased its holdings in Vuzix by 278.1% during the first 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. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Vuzix by 71.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,032,366 shares of the company’s stock valued at $7,825,000 after buying an additional 848,142 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Vuzix by 101.7% in the second quarter. Geode Capital Management LLC now owns 1,519,934 shares of the company’s stock worth $4,439,000 after acquiring an additional 766,420 shares during the period. 35.87% of the stock is currently owned by institutional investors.

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.