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

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

Vuzix Price Performance

NASDAQ:VUZI opened at $1.26 on Tuesday. The company has a market cap of $81.55 million, a P/E ratio of -1.59 and a beta of 1.86. The stock’s fifty day moving average price is $1.45 and its two-hundred day moving average price is $2.10. Vuzix has a 1 year low of $1.10 and a 1 year high of $6.06.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Vuzix by 2.7% in the second quarter. JPMorgan Chase & Co. now owns 69,956 shares of the company’s stock worth $496,000 after purchasing an additional 1,835 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Vuzix by 10.0% in the second quarter. The Manufacturers Life Insurance Company now owns 24,775 shares of the company’s stock worth $126,000 after purchasing an additional 2,257 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Vuzix by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 159,602 shares of the company’s stock worth $581,000 after purchasing an additional 2,515 shares during the period. Tower Research Capital LLC TRC increased its stake in Vuzix by 93.2% in the third quarter. Tower Research Capital LLC TRC now owns 5,573 shares of the company’s stock valued at $32,000 after acquiring an additional 2,688 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Vuzix by 3.6% in the first quarter. Rhumbline Advisers now owns 79,098 shares of the company’s stock valued at $327,000 after acquiring an additional 2,757 shares during the last quarter. 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.