Vuzix (NASDAQ:VUZI) Hits New 12-Month High at $31.80

Vuzix Co. (NASDAQ:VUZI)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $31.80 and last traded at $31.56, with a volume of 135018 shares traded. The stock had previously closed at $28.94.

A number of analysts have weighed in on VUZI shares. Maxim Group reiterated a “hold” rating on shares of Vuzix in a report on Monday, March 22nd. Zacks Investment Research downgraded Vuzix from a “hold” rating to a “sell” rating in a research note on Thursday. BTIG Research started coverage on Vuzix in a research note on Tuesday, February 16th. They issued a “buy” rating for the company. Finally, Craig Hallum lifted their price target on Vuzix from $12.00 to $30.00 in a research note on Tuesday, March 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $17.67.

The stock has a market cap of $1.80 billion, a P/E ratio of -38.80 and a beta of 2.09. The company has a current ratio of 8.15, a quick ratio of 5.92 and a debt-to-equity ratio of 0.03. The company’s 50-day simple moving average is $21.34 and its 200 day simple moving average is $10.54.

Vuzix (NASDAQ:VUZI) last posted its quarterly earnings results on Sunday, March 14th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. The business had revenue of $4.20 million during the quarter, compared to the consensus estimate of $4.01 million. Vuzix had a negative net margin of 321.08% and a negative return on equity of 95.50%. Vuzix’s quarterly revenue was up 121.1% compared to the same quarter last year. Research analysts anticipate that Vuzix Co. will post -0.55 earnings per share for the current fiscal year.

In related news, major shareholder Corp Intel sold 4,962,600 shares of the stock in a transaction dated Thursday, January 28th. The shares were sold at an average price of $11.51, for a total value of $57,119,526.00. Following the completion of the transaction, the insider now directly owns 4,962,600 shares of the company’s stock, valued at $57,119,526. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 12.20% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Morgan Stanley lifted its position in Vuzix by 88.2% during the third quarter. Morgan Stanley now owns 30,644 shares of the company’s stock valued at $139,000 after purchasing an additional 14,362 shares during the period. Jacobi Capital Management LLC purchased a new position in shares of Vuzix in the 4th quarter worth $42,000. Taylor Frigon Capital Management LLC boosted its stake in shares of Vuzix by 0.7% during the 4th quarter. Taylor Frigon Capital Management LLC now owns 1,091,088 shares of the company’s stock worth $9,907,000 after purchasing an additional 7,386 shares during the period. Cetera Advisor Networks LLC lifted its holdings in Vuzix by 10.4% during the 3rd quarter. Cetera Advisor Networks LLC now owns 63,635 shares of the company’s stock valued at $290,000 after buying an additional 6,000 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Vuzix by 9.5% during the 3rd quarter. BlackRock Inc. now owns 600,178 shares of the company’s stock valued at $2,737,000 after buying an additional 52,217 shares in the last quarter. Institutional investors and hedge funds own 12.43% of the company’s stock.

Vuzix Company Profile (NASDAQ:VUZI)

Vuzix Corporation designs, manufactures, markets, and sells augmented reality (AR) wearable display and computing devices for consumer and enterprise markets in North America, the Asia-Pacific, Europe, and internationally. It provides M300XL, M400, and M4000 series of smart glasses for enterprise, industrial, commercial, and medical markets; Vuzix Blade smart glasses; waveguide optics and related coupling optics; and other AR products, such as binocular next generation smart glasses and AR smart glasses product with 3D, stereo cameras, and 3D camera vision, as well as custom and engineering solutions.

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