Vuzix (NASDAQ:VUZI) Cut to Sell at Wall Street Zen

Vuzix (NASDAQ:VUZI) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vuzix in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Vuzix has an average rating of “Hold”.

Vuzix Stock Up 2.5%

Shares of VUZI stock traded up $0.06 on Friday, reaching $2.50. The stock had a trading volume of 813,229 shares, compared to its average volume of 1,409,581. The firm’s 50-day moving average is $3.40 and its two-hundred day moving average is $2.97. The firm has a market capitalization of $207.90 million, a price-to-earnings ratio of -6.25 and a beta of 1.74. Vuzix has a 12 month low of $1.83 and a 12 month high of $5.62.

Vuzix (NASDAQ:VUZI) last issued its earnings results on Thursday, May 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. The business had revenue of $1.39 million during the quarter, compared to the consensus estimate of $1.35 million. Vuzix had a negative net margin of 504.12% and a negative return on equity of 116.50%.

Insider Activity

In other news, Director Paula Beck Whitten-Doolin sold 32,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $4.68, for a total transaction of $149,760.00. Following the completion of the sale, the director owned 90,668 shares in the company, valued at approximately $424,326.24. This trade represents a 26.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Timothy Heydenreich Harned sold 10,000 shares of Vuzix stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $4.73, for a total transaction of $47,300.00. Following the sale, the director directly owned 318,158 shares of the company’s stock, valued at $1,504,887.34. The trade was a 3.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 7.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vuzix

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp lifted its holdings in Vuzix by 373.7% during 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 last quarter. Vanguard Group Inc. increased its position in Vuzix by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,631,584 shares of the company’s stock worth $11,367,000 after buying an additional 147,811 shares during the period. AIGH Capital Management LLC bought a new position in Vuzix during the 1st quarter worth $7,613,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of 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 worth $7,825,000 after buying an additional 848,142 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Vuzix by 278.1% during the first 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 in the last quarter. 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.