Stock Traders Buy High Volume of Vuzix Call Options (NASDAQ:VUZI)

Vuzix Corporation (NASDAQ:VUZI) saw unusually large options trading activity on Friday. Stock investors bought 6,275 call options on the company. This represents an increase of approximately 870% compared to the typical daily volume of 647 call options.

Vuzix Trading Down 17.6%

Shares of VUZI stock traded down $0.32 during mid-day trading on Friday, reaching $1.52. The stock had a trading volume of 1,442,946 shares, compared to its average volume of 1,291,884. The stock’s 50-day moving average price is $2.42 and its two-hundred day moving average price is $2.70. Vuzix has a 52-week low of $1.50 and a 52-week high of $5.62. The firm has a market capitalization of $128.05 million, a PE ratio of -3.91 and a beta of 1.83.

Vuzix (NASDAQ:VUZI) last issued its quarterly earnings data on Thursday, November 12th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The firm had revenue of $0.71 million for the quarter, compared to the consensus estimate of $1.30 million. Vuzix had a negative net margin of 519.11% and a negative return on equity of 125.60%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Vuzix from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 28th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Vuzix presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Vuzix

Hedge funds have recently made changes to their positions in the business. StoneX Group Inc. purchased a new stake in shares of Vuzix in the 3rd quarter worth about $48,000. AXQ Capital LP bought a new position in Vuzix in the second quarter worth about $77,000. Laidlaw Wealth Management LLC bought a new position in Vuzix in the first quarter worth about $79,000. Squarepoint Ops LLC lifted its holdings in Vuzix by 139.7% in the second quarter. Squarepoint Ops LLC now owns 98,919 shares of the company’s stock worth $287,000 after buying an additional 57,655 shares during the period. Finally, Hsbc Holdings PLC purchased a new stake in Vuzix in the first quarter worth about $134,000. 35.87% of the stock is owned by hedge funds and other institutional investors.

Vuzix Company Profile

Vuzix Corporation develops and sells wearable display technology, smart glasses and augmented reality products. Its offerings include smart glasses for hands-free work and remote assistance, as well as optical waveguides, display engines and related components for use in its own products and by other manufacturers. The company’s products are designed for applications across sectors such as manufacturing, logistics, healthcare and field service. Vuzix serves customers internationally through direct sales and distribution partners.