Insider Selling: Vuzix (NASDAQ:VUZI) Director Sells $47,300.00 in Stock

Vuzix Corporation (NASDAQ:VUZI) Director Timothy Heydenreich Harned sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $4.73, for a total value of $47,300.00. Following the completion of the transaction, the director owned 318,158 shares in the company, valued at $1,504,887.34. This represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Vuzix Stock Performance

VUZI opened at $5.14 on Friday. Vuzix Corporation has a one year low of $1.83 and a one year high of $5.62. The stock has a market capitalization of $427.44 million, a PE ratio of -12.85 and a beta of 1.52. The business’s 50 day moving average price is $2.70 and its 200 day moving average price is $2.80.

Vuzix (NASDAQ:VUZI) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.09) EPS for the quarter, beating 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 firm had revenue of $1.39 million for the quarter, compared to analysts’ expectations of $1.35 million.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in Vuzix by 5.1% during the third quarter. SG Americas Securities LLC now owns 75,793 shares of the company’s stock worth $237,000 after purchasing an additional 3,680 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Vuzix by 424.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,493 shares of the company’s stock worth $36,000 after purchasing an additional 7,682 shares in the last quarter. Simmons Bank lifted its stake in Vuzix by 13.6% during the fourth quarter. Simmons Bank now owns 66,800 shares of the company’s stock worth $253,000 after purchasing an additional 8,000 shares in the last quarter. State of Wyoming acquired a new position in Vuzix during the fourth quarter worth $38,000. Finally, Jump Financial LLC acquired a new position in Vuzix during the second quarter worth $31,000. 35.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on VUZI. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vuzix in a report on Friday, April 17th. Wall Street Zen upgraded Vuzix from a “sell” rating to a “hold” rating in a report on Sunday. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

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.