Insider Selling: Vuzix (NASDAQ:VUZI) Director Sells 10,000 Shares of Stock

Vuzix Corporation (NASDAQ:VUZI) 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 value of $47,300.00. Following the sale, the director directly owned 318,158 shares of the company’s stock, valued at approximately $1,504,887.34. This trade represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Vuzix Stock Up 4.0%

Shares of Vuzix stock traded up $0.18 during trading on Thursday, reaching $4.70. 3,518,061 shares of the company were exchanged, compared to its average volume of 1,354,808. Vuzix Corporation has a twelve month low of $1.83 and a twelve month high of $4.82. The business has a 50-day moving average price of $2.60 and a 200-day moving average price of $2.77. The firm has a market capitalization of $390.85 million, a price-to-earnings ratio of -11.75 and a beta of 1.52.

Vuzix (NASDAQ:VUZI) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Vuzix had a negative return on equity of 116.50% and a negative net margin of 504.12%.The business had revenue of $1.39 million during the quarter, compared to analysts’ expectations of $1.35 million.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wall Street Zen cut Vuzix from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vuzix in a report on Friday, April 17th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of VUZI. State Street Corp boosted its position in shares of Vuzix by 373.7% during the fourth quarter. State Street Corp now owns 7,226,194 shares of the company’s stock worth $27,315,000 after buying an additional 5,700,613 shares during the period. AIGH Capital Management LLC bought a new stake in Vuzix during the 1st quarter worth about $7,613,000. Millennium Management LLC boosted its stake in shares of Vuzix by 278.1% during the 1st quarter. Millennium Management LLC now owns 1,911,972 shares of the company’s stock worth $3,900,000 after buying an additional 1,406,234 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake 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 last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Vuzix by 101.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,519,934 shares of the company’s stock valued at $4,439,000 after acquiring an additional 766,420 shares in the last quarter. 35.87% of the stock is owned by institutional investors and hedge funds.

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.