Vuzix (NASDAQ:VUZI) Shares Cross Above 50-Day Moving Average – What’s Next?

Vuzix Corporation (NASDAQ:VUZI) passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $2.62 and traded as high as $2.93. Vuzix shares last traded at $2.77, with a volume of 587,349 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on VUZI shares. Weiss Ratings lowered shares of Vuzix from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 28th. Wall Street Zen lowered shares of Vuzix from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold”.

Vuzix Price Performance

The firm has a market cap of $235.94 million, a PE ratio of -7.17 and a beta of 1.81. The business’s fifty day moving average is $2.63 and its 200-day moving average is $2.82.

Vuzix (NASDAQ:VUZI) last released 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. Vuzix had a negative net margin of 519.11% and a negative return on equity of 125.60%. The firm had revenue of $1.11 million for the quarter, compared to analysts’ expectations of $1.50 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VUZI. Caitong International Asset Management Co. Ltd lifted its holdings 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 valued at $36,000 after purchasing an additional 7,682 shares during the last quarter. Independent Wealth Network Inc. bought a new stake in shares of Vuzix in the first quarter valued at approximately $31,000. AXQ Capital LP purchased a new stake in shares of Vuzix during the 2nd quarter valued at approximately $77,000. Laidlaw Wealth Management LLC purchased a new stake in shares of Vuzix during the 1st quarter valued at approximately $79,000. Finally, Hsbc Holdings PLC bought a new position in Vuzix in the 1st quarter worth approximately $134,000. Institutional investors own 35.87% of the company’s stock.

Vuzix Company Profile

Vuzix Corporation is a technology company that designs, manufactures and sells smart glasses and augmented reality (AR) products. Its solutions combine wearable displays, cameras, audio, computing components and software to provide users with hands-free access to digital information and remote collaboration tools.

The company’s product portfolio has included the Vuzix M-Series and Shield smart glasses, as well as the Vuzix Blade line. Vuzix also develops proprietary waveguide optics and related display technologies that support lightweight, see-through augmented reality devices.